AUDUSD Analysis.
AUDUSD’s fall extended to as low as 0.9944 level. Deeper decline is expected later today and next target would be at 0.9850 area. Initial resistance is at 1.0025, as long as this level holds, downtrend from 1.0255 could be expected to continue.
EURUSD Analysis.
Being contained by 1.3497 resistance, EURUSD dropped from 1.3433 and broke below 1.3250 support, suggesting that the rise from 1.3055 had completed. Deeper decline is still possible later today and target would be at 1.3000 area.
USDCHF Analysis.
USDCHF broke above the falling price channel on 4-hour chart and bounced strongly to as high as 0.9684 level. Further rally is still possible in a couple of days and next target would be at 0.9800-0.9900 area.
USDJPY Analysis.
USDJPY bounced strongly to as high as 83.39 level. Further rise towards 84.49 previous high is still possible in a couple of days, support is at 83.00, only fall below this level could indicate that minor consolidation of uptrend is underway.
GBPUSD Analysis.
GBPUSD continues its sideways consolidation. Range trading between 1.5344 and 1.5664 is still in favor in a couple of days. As long as 1.5664 key resistance holds, downtrend is expected to resume after consolidation and one more fall to test 1.5296 (Sep 7 low) support is still possible, a break below this level will confirm that the long term uptrend from 1.4230 (May 20 low) is complete.
USDCAD Analysis.
USDCAD broke above the falling trend line on 4-hour chart and is now in uptrend from 0.9888, the fall from 1.0033 is treated as correction of uptrend. Another rise to 1.0100 is expected in a couple of days and a break above 1.0033 resistance could signal resumption of uptrend.
