GBPUSD breaks below 1.7445 (Sep 11 low) and reaches as low as 1.7334 level. Deeper decline could be seen to 1.7000 zone in a couple of days. Near term resistance is at the down trend line on 4-hour chart now at 1.7680, and key resistance is located at 1.7836, as long as the trend line resistance holds, we’d expect downtrend to continue, however, a break above 1.7680 will signal consolidation to down trend.
USDCHF breaks above 1.1416 (Sep 11 high) and reaches as high as 1.1486 level. Further rise could be seen to 1.1700 zone in a couple of days. Initial support is at the up trend line from 1.0812 to 1.1217, followed by 1.1217 level, as long as the pair stays above the trend line support, we’d expect up trend to continue.
AUDUSD drops sharply to as low as 0.6988 level. Consolidation could be seen in a couple of days before breaking below 0.6988 level. Near term resistance is at the down trend line on 4-hour chart, as long as the trend line resistance holds, we’d expect downtrend to resume, and deeper decline is still possible after consolidation, a break down below 0.6988 will signal resumption of down trend.
USDJPY breaks below 103.49 previous low support and drops sharply to as low as 100.22 level. Further fall could be seen to 98.00 zone after consolidation. Initial resistance is now located at 103.49, as long as this level holds, downtrend will continue.
USDCAD’s up trend remains and the rise from 1.0297 extends to 1.1089 level. Further rise is still possible to 1.1300 zone. Initial support is at the up trend line on 4-hour chart, and as long as the trend line support holds, up trend will continue.
EURUSD stays below the trend line resistance and remains in down trend. Deeper decline is still possible to 1.3200 zone in a couple of days. Near term resistance is still from the down trend line now at 1.3730, as long as this level holds, we’d expect down trend to continue.