Being contained by 1.6105 previous high resistance, GBPUSD pulled back from 1.6088. However, the fall from 1.6088 is more likely minor consolidation of uptrend from 1.5649, one more rise to re-test 1.6105 key resistance is possible later today, a break above this level will indicate that the longer term uptrend from 1.5296 (Sep 7 low) has resumed, then another rise towards 1.6500 could be seen. Support is at 1.5961, below this level could bring price back to downward move and target would be at 1.5700-1.5800 area.
EURUSD broke above the triangle pattern. Further rise towards 1.4152 previous high resistance is still possible later today, a break above this level will indicate that the uptrend from 1.2587 (Aug 24 low) has resumed, then another rise towards 1.4500 could be seen. However, as long as 1.4152 key resistance holds, lengthier consolidation in the trading range between 1.3698 and 1.4152 is expected, and one more fall to 1.3750-1.3800 area is still possible.
USDCHF broke below the lower border of the rising price channel on 4-hour, suggesting that the rise from 0.9463 has completed at 0.9971 already. Deeper decline is now in favor and target would be at 0.9500-0.9600 area.
No changed in our view, USDJPY remains in downtrend from 85.92. Another fall towards 79.75 (1995 low) is expected later today. Key resistance is at 81.98, only break above this level could indicate that the fall from 85.92 is complete.
AUDUSD broke above 0.9998 previous high resistance and reached as high as 1.0022 level, suggesting that the longer term uptrend from 0.8066 (May 25 low) has resumed. Further rise is still possible in next several days, and next target would be at 1.0200 area.
USDCAD’s fall from 1.0372 extended to as low as 1.0080 level. Deeper decline is still possible later today and next target would be at 1.0000-1.0050 area. However, the fall from 1.0372 is more likely correction of uptrend from 0.9979, rebound would more likely be seen before breaking below 0.9979 key support.