Daily Forex Analysis – December 15, 2011

AUDUSD Analysis.
AUDUSD continued its downward movement from 1.0378, and the fall extended to as low as 0.9883. Further decline could be seen in a couple of days, and next target would be at 0.9800 area. Resistance is at 1.0050 followed by the downward trend line on 4-hour chart, as long as the trend line resistance holds, downtrend will continue.

20111215_audusd_1

USDCHF Analysis.
USDCHF’s bullish movement extended to as high as 0.9539. Further rise is still possible after a minor consolidation, and next target would be at 0.9650-0.9700 area. Initial support is at 0.9460, as long as this level holds, uptrend from 0.9066 will continue.

20111215_usdchf_1

GBPUSD Analysis.
GBPUSD broke below 1.5423 key support and reached as low as 1.5409, suggesting that the downtrend from 1.6164 has resumed. Further fall could be seen after a minor consolidation, and next target would be at 1.5300 area. Resistance is at 1.5550, as long as this level holds, downtrend will continue.

20111215_gbpusd_1

EURUSD Analysis.
EURUSD’s bearish movement extended to as low as 1.2946. Resistance is now at 1.3140, as low as this level holds, downtrend from 1.3546 could be expected to continue, and next target would be at 1.2800.

20111215_eurusd_1

USDCAD Analysis.
USDCAD’s rise from 1.0051 extended to as high as 1.0422. Further rise towards 1.0523 previous high could be seen over the next several days. Support is at the upward trend line on 4-hour chart, as long as the trend line support holds, uptrend will continue.

20111215_usdcad_1

USDJPY Analysis.
USDJPY’s rise from 77.13 extended to as high as 78.14. further rise to test 78.27 resistance could be seen in a couple of days, a break above this level could signal resumption of uptrend from 76.56.

20111215_usdjpy_1

Comments are closed.