GBPUSD Analysis.
GBPUSD continued its downward move from 1.6453 and the fall extended to as low as 1.5707. Resistance remains at the downtrend line on 4-hour chart, as long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 1.5600 area. However, a clear break above the trend line resistance will indicate that a cycle bottom has been formed on 4-hour chart, then consolidation of downtrend could be seen.
USDCAD Analysis.
USDCAD is in downtrend from 1.0025, the rise from 0.9845 is treated as consolidation of downtrend. As long as 1.0025 resistance holds, one more fall to 0.9750-0.9800 area is still possible, only break above 1.0025 previous high could indicate that the longer term uptrend from 0.9406 (Jul 26 low) has resumed.
AUDUSD Analysis.
AUDUSD remains in downtrend from 1.0764, and the fall extended to as low as 1.0178. Resistance is at 1.0295 followed by 1.0400, as long as these levels hold, downtrend could be expected to continue, and another fall towards 1.0000 is possible later today.
USDCHF Analysis.
USDCHF has formed a cycle top at 0.8925 on 4-hour chart. The fall from 0.8925 is treated as consolidation of uptrend from 0.7067. Range trading between 0.8540 and 0.8925 would likely be seen in a couple of days. Key resistance is at 0.9925, only break above this level could signal resumption of uptrend.
EURUSD Analysis.
EURUSD is in consolidation of downtrend from 1.4548. range trading between 1.3499 and 1.3825 would likely be seen in next several days. As long as 1.3825 resistance hold, another fall towards 1.3000 is still possible.
USDJPY Analysis.
USDJPY is forming a sideways consolidation in a range between 75.96 and 77.85. Now the fall from 77.85 has extended to as low as 76.60. Further decline towards 75.96 previous low could be expected in a couple of days.
