GBPUSD Analysis.
GBPUSD continued its downward move from 1.6453 and the fall extended to as low as 1.5823. Deeper decline to test 1.5781 (Jul 12 low) support is expected in a couple of days, however, minor consolidation would likely be seen before breaking below this level. Resistance remains at the downtrend line on 4-hour chart, only a clear break above the trend line could indicate that the fall from 1.6453 is complete.
AUDUSD Analysis.
AUDUSD broke below the lower border of the price channel on 4-hour chart, suggesting that the uptrend from 0.9927 has completed at 1.0764 already. The pair is now in downtrend, further fall could be seen in a couple of days, and next target would be at 1.0300 zone. Resistance levels are at 1.0500 and 1.0560, as long as these levels hold, downtrend will continue.
USDCAD Analysis.
USDCAD broke above 0.9961 previous high, and is now facing 1.0009 resistance, above this level will indicate that the longer term uptrend from 0.9406 (Jul 26 low) has resumed, then the following upward move could bring price to 1.0200 zone. Support levels are at 0.9940 and 0.9910.
USDCHF Analysis.
USDCHF’s upward move extended to as high as 0.8891. Support is now at 0.8670, as long as this level holds, uptrend could be expected to continue, and next target would be at 0.9000 area. Only break below 0.8670 could suggest that a cycle top is being formed on 4-hour, then consolidation of uptrend could be seen to follow.
EURUSD Analysis.
EURUSD continued its downward movement and the fall extended to as low as 1.3553. Further decline is still possible after a minor consolidation and next target would be at 1.3400. Resistance is now at 1.3800, only break above this level could indicate that the fall from 1.4548 is complete.
USDJPY Analysis.
USDJPY’s upward move extended to as high as 77.85. Support is at 77.07, as long as this level holds, uptrend from 76.42 could be expected to continue, and next target would be at 78.50 zone. Only break below 77.07 could trigger another fall towards 75.96 previous low.
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