EURUSD Analysis.
Being contained by 1.3171 previous high resistance, EURUSD pulled back from 1.3138. However, the fall is likely minor consolidation of the uptrend from 1.2825, another rise to test 1.3171 resistance could be expected after consolidation, and a break above this level will confirm that the longer term uptrend from 1.2042 (Jul 24 low) has resumed, then further rise to 1.3500 could be seen. Support is at 1.3025, only break below this level could indicate that a cycle top has been formed at 1.3138 on 4-hour chart, and lengthier consolidation of the uptrend from 1.2042 is underway, then another fall to re-test 1.2803 support is possible.
GBPUSD Analysis.
Being contained by the resistance of the downward trend line on 4-hour chart, GBPUSD pulled back from 1.6178, suggesting that a cycle top has been formed, and the downtrend from 1.6309 has resumed. Further decline could be expected after a minor consolidation, and next target would be at 1.6000 area. Key resistance remains at the trend line, only a clear break above the trend line resistance could signal completion of the downtrend.
AUDUSD Analysis.
AUDUSD’s upward movement from 1.0149 extends to as high as 1.0410. Further rise could be expected after a minor consolidation, and next target would be at 1.0500 area. Support is at 1.0300, as long as this level holds, the uptrend will continue.
USDCAD Analysis.
USDCAD moves sideways in a range between 0.9734 and 0.9884. Key resistance is at 0.9884, a break above this level will indicate that lengthier consolidation of the downtrend from 1.0445 (Jun 4 high) is underway, then further rise to 1.0000 area could be seen. However, as long as 0.9884 resistance holds, another fall to test 0.9734 support is still possible, below this level could signal resumption of the downtrend from 1.0445.
USDCHF Analysis.
USDCHF remains in downtrend from 0.9431, the rise from 0.9214 is likely minor consolidation of the downtrend. Another fall could be expected after consolidation, and next target would be at 0.9100 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 79.46. Support is at 79.00, as long as this level holds, the uptrend could be expected to continue after a minor consolidation, and next target would be at 80.00 area.
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