USDCAD Analysis.
USDCAD moves sideways in a range between 0.9780 and 0.9859. Support is at 0.9780, as long as this level holds, the price action in the range is treated as consolidation of the uptrend from 0.9632, one more rise to 0.9900 area to complete the upward move could be expected. On the downside, a breakdown below 0.9780 support will indicate that the rise from 0.9632 has completed at 0.9859 already, then the following downward movement could bring price back towards 0.9632 previous low.
USDCHF Analysis.
USDCHF stays above a upward trend line on 4-hour chart, and remains in short term uptrend from 0.9239. As long as the trend line support holds, one more rise to 0.9500 area to complete to upward move is possible. On the downside, a clear break below the trend line support will suggest that the uptrend from 0.9239 has completed, then further decline to test 0.9239 previous low support could be seen.
GBPUSD Analysis.
GBPUSD is in consolidation of the uptrend from 1.5393 (Jul 12 low). Range trading between 1.0650 and 1.6309 would likely be seen over the next several days. Support is at 1.6050, as long as this level holds, the uptrend could be expected to resume, and another rise towards 1.6500 is possible after consolidation.
EURUSD Analysis.
EURUSD stays below a downward trend line on 4-hour chart, and remains in short term downtrend from 1.3171. As long as the trend line resistance holds, one more fall to 1.2750 to complete the downward movement is possible. On the upside, a clear break above the trend line resistance will signal completion of the downtrend, then further rise to test 1.3171 previous high resistance could be seen.
AUDUSD Analysis.
AUDUSD remains in downtrend from 1.0624, the price action from 1.0367 is likely consolidation of the downtrend. Key resistance is at 1.0473, as long as this level holds, another fall could be expected after consolidation, and next target would be at 1.0250 area. On the upside, a break above 1.0473 will signal completion of the downtrend, then further rise to test 1.0624 previous high resistance could be seen.
USDJPY Analysis.
USDJPY’s rise from 77.43 extends to as high as 77.90. Further rise is still possible after a minor consolidation, and next target would be at 78.50 area. Support levels are at 77.75 and 77.43, only break below these levels could trigger another fall towards 77.00.
