USDCAD Analysis.
USDCAD remains in uptrend from 0.9725, the fall from 1.0025 is treated as consolidation of uptrend. Support is at the rising trend line on 4-hour chart, as long as the trend line support holds, uptrend could be expected to resume, and another rise towards 1.0200 is still possible. However, a clear break below the trend line could indicate that the rise from 0.9725 has completed at 1.0025 already, then pullback to 0.9750-0.9800 area could be seen.
GBPUSD Analysis.
GBPUSD broke below 1.5781 (Jul 12 low) support, and reached as low as 1.5774. Resistance remains at the downtrend line on 4-hour chart, as long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 1.5700. only a clear break above the trend line could indicate that the fall from 1.6453 is complete.
AUDUSD Analysis.
AUDUSD’s downward move from 1.0764 extended to as low as 1.0255. Deeper decline is still possible after a minor consolidation, and next target would be at 1.0100-1.0150 area. Resistance is now at 1.0450, as long as this level holds, downtrend will continue.
USDCHF Analysis.
USDCHF may be forming a cycle top at 0.8925 on 4-hour chart. Consolidation of uptrend from 0.7067 would likely be seen in a couple of days, and the trading range would be between 0.8540 and 0.8925. Resistance is at 0.8925, only break above this level could trigger another rise to 0.9100 zone.
EURUSD Analysis.
EURUSD remains in downtrend from 1.4548, the rise from 1.3499 is treated as consolidation of downtrend. Resistance is at 1.3825, as long as this level holds, we’d expect downtrend to resume, and another fall towards 1.3000 is still possible.
USDJPY Analysis.
USDJPY broke below 77.07 key support, and reached as low as 76.74, suggesting that a cycle top has been formed at 77.85 on 4-hour chart. Deeper decline towards 75.96 previous low would likely be seen in a couple of days.
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