AUDUSD Analysis.
AUDUSD stays below 0.8353 resistance and pulls back from 0.8262 level. Sideways consolidation is expected in a couple of days. Deeper decline is in favor after consolidation, and a break of 0.7900 previous low will confirm the resumption of down trend, the first target would be at 0.7700 zone.
USDCHF Analysis.
USDCHF pulled back sharply from 1.1416 and extended to as low as 1.1056. The pair is now in down trend. The rebound from 1.1056 is treated as consolidation to down trend. Deeper decline is still possible to 1.0880 zone, and a break below 1.1056 level will confirm such case.
USDCAD Analysis.
USDCAD formed a short term cycle top at 1.0819. Sideways consolidation may be expected in a couple of days. One more fall is still possible to 1.0500 zone. Key resistance is at 1.0819, only rise above this level will signal resumption of up trend.
EURUSD Analysis.
EURUSD formed a short term cycle bottom at 1.3881 and is now in up trend. The pullback from 1.4481 is treated as consolidation to up trend. Further rally is still possible to 1.4700 zone and a break of 1.4481 will confirm the resumption of up trend.
GBPUSD Analysis.
GBPUSD rebounded sharply from 1.7445 and formed a short term cycle bottom on 4-hour chart. Further rise towards 1.8480 zone is still possible after consolidation, and a break of 1.8130 will confirm the resumption of up trend.
USDJPY Analysis.
USDJPY broke below 105.52 previous low support and reached as low as 104.18 level. Deeper decline below 103.76 (July 16 low) is now in favor and near term target would be at 103.00 zone. Near term resistance is at 106.38 and followed by 107.47.
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