GBPUSD Analysis.
GBPUSD failed to break above the trend line resistance and dropped from 1.5488. Now the fall from 1.5488 could possibly be resumption of downtrend from 1.5997, another fall towards 1.5200 would more likely be seen, and a breakdown below 1.5326 will signal resumption of downtrend. Resistance remains at the falling trend line (now at 1.5495), only a clear break above the trend line resistance will suggest that the downward movement from 1.5997 is complete.
AUDUSD Analysis.
AUDUSD is facing 0.9221 previous high resistance, minor consolidation would more likely be seen before breaking above this level, and a breakdown below 0.9053 will indicate that consolidation of uptrend is underway, then deeper decline could be seen to 0.9000 area.
USDCAD Analysis.
USDCAD stays below a falling trend line from 1.0672 to 1.0568 and is now in downtrend. As long as the trend line resistance holds, downward move is expected to continue and next target would be at 1.0250-1.0300 area.
EURUSD Analysis.
EURUSD is facing 1.2921 key resistance, a break above this level will confirm that the downtrend from 1.3333 has completed at 1.2587 already, then the following upward movement could bring price to 1.3000-1.3100 area. Key support is at 1.2740, only break below this level could turn price back to downward movement, then one more fall towards 1.2500 could be seen.
USDCHF Analysis.
USDCHF stays below the falling trend line from 1.0624 to 1.0450 and remains in downtrend from 1.0624, and the price action from 1.0064 is treated as consolidation of downtrend. Another fall would more likely be seen after consolidation and next target would be at 1.0000 area.
USDJPY Analysis.
USDJPY lost its downside momentum and traded in a range between 83.62 and 85.89. Lengthier sideways movement in the range would more likely be seen in a couple of days. As long as 85.89 resistance holds, another fall towards 82.00 is still possible, and a breakdown below 83.62 could signal resumption of downtrend.
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