GBPUSD Analysis.
GBPUSD breaks above the downward trend line resistance, suggesting that the downward movement from 1.6309 has completed at 1.5976 already. Further rise could be expected after a minor consolidation, and next target would be at 1.6250 area. Support is at 1.6100, as long as this level holds, the uptrend from 1.5976 will continue.
EURUSD Analysis.
EURUSD is facing 1.3171 previous high resistance, a break above this level will confirm that that uptrend from 1.2042 (Jul 24 low) has resumed, then further rise towards 1.3500 could be seen. Support is at 1.3025, only break below this level could indicate that a cycle top is being formed on 4-hour chart, then another fall to re-test 1.2803 is possible.
AUDUSD Analysis.
AUDUSD’s upward movement from 1.0149 extends to as high as 1.0387. Further rise could be expected after a minor consolidation, and next target would be at 1.0450-1.0500 area. Support is at 1.0290, as long as this level holds, the uptrend will continue.
USDCAD Analysis.
USDCAD failed to break above 0.9884 resistance and pulled back from 0.9877, suggesting that a cycle top has been formed on 4-hour chart. Further decline to test 0.9734 support could be seen, a breakdown below this level will indicate that the downtrend from 1.0445 (Jun 4 high) has resumed, then another fall towards 0.9500 could be expected.
USDCHF Analysis.
USDCHF continues its downward movement from 0.9431, and the fall extends to as low as 0.9214. Further decline could be seen after a minor consolidation, and next target would be at 0.9100-0.9150 area. Resistance is at 0.9270, as long as this level holds, the downtrend will continue.
USDJPY Analysis.
USDJPY’s upward movement from 77.94 extends to as high as 79.15. Support is at 78.80, as long as this level holds, the uptrend could be expected to continue after a minor consolidation, and next target would be at 79.50 area.
