GBPUSD Analysis.
GBPUSD is facing 1.5894 support, a breakdown below this level will indicate that the uptrend from 1.4813 (Jul 9 low) had completed at 1.6259 already, then the following downward movement could bring price to 1.4500 area. On the upside, as long as 1.5894 support holds, the price action in the range between 1.5894 and 1.6259 could be treated as consolidation of the uptrend from 1.4813, one more rise towards 1.6500 is still possible. Initial resistance is at 1.6100, a break above this level could trigger another rise to re-test 1.6259 previous high resistance.
EURUSD Analysis.
EURUSD is facing 1.3462 support, a breakdown below this level will indicate that the uptrend from 1.2756 (Jul 9 low) had completed at 1.3832 already, then the following downward movement could bring price to 1.2500 area. However, as long as 1.3462 support holds, the fall from 1.3832 would possibly be consolidation of the uptrend, and one more rise towards 1.4000 is still possible.
AUDUSD Analysis.
AUDUSD’s downward movement from 0.9756 extends to as low as 0.9421. Resistance is now at 0.9530, as long as this level holds, the downtrend could be expected to continue, and next target would be at 0.9350 area. On the upside, a break above 0.9530 resistance will indicate that the downward movement has completed, then the following upward move could bring price to 1.0000 zone.
USDJPY Analysis.
USDJPY is facing 99.00 resistance, a break above this level will signal resumption of the uptrend from 96.57, then next target would be at 100.00. Support is at 97.80, only break below this level will suggest that the upward movement from 96.94 has completed, then the following downward movement could bring price back to 96.00 zone.
USDCHF Analysis.
USDCHF’s upward movement from 0.8890 extends to as high as 0.9137. Further rise to test 0.9177 resistance would likely be seen, a break above this level will signal completion of the downtrend from 0.9751 (Jul 9 high), then the following upward movement could bring price to 1.0500 area. On the downside, as long as 0.9177 resistance holds, the rise from 0.8890 could be treated as consolidation of the downtrend from 0.9751, one more fall towards 0.8500 is still possible.
USDCAD Analysis.
USDCAD is now in downtrend from 1.0496. Further decline would likely be seen in a couple of days, and next target would be at 1.0350 area. Resistance is at 1.0496, only break above this level could trigger another rise towards 1.0600.
