GBPUSD Analysis.
GBPUSD stays in a trading range between 1.5458 and 1.5767. Lengthier consolidation in the range is still possible in a couple of days. Resistance is at 1.5767, a break above this level will target 1.5900 zone. Support is at 1.5458, a breakdown below this level will indicate that the longer term downtrend from 1.6301 (Apr 30 high) has resumed, then another fall towards 1.5000 could be seen.
USDJPY Analysis.
USDJPY is in downtrend from 80.62 (Jun 25 high), the sideways movement from 77.94 is treated as consolidation of the downtrend. Further rise to 79.00 area to complete to consolidation would likely be seen. Key resistance is at 79.15, as long as this level holds, we’d expect downtrend to resume, and another fall towards 77.00 is possible, only break above 79.15 could signal completion of the downtrend.
EURUSD Analysis.
EURUSD’s rise from 1.2042 extends to as high as 1.2442. Further rise could be expected in a couple of days, and next target would be at 1.2500 area. Support is now at 1.2300, only break below this level could signal completion of the uptrend.
USDCAD Analysis.
USDCAD continues its downward movement from 1.0230, and the fall extends to as low as 0.9962. Further decline could be seen in a couple of days, and next target would be at 0.9900. Key resistance is at 1.0083, only break above this level could signal completion of the downtrend.
AUDUSD Analysis.
AUDUSD’s upward movement from 1.0176 extends to as high as 1.0603. Pullback to test 1.0435 support would likely be seen, a breakdown below this level will indicate that a cycle top has been formed on 4hour chart, then consolidation of the uptrend could be seen. On the upside, as long as 1.0435 level holds, further rise is still possible, and next target would be at 1.0650 area.
USDCHF Analysis.
USDCHF’s downward movement from 0.9897 extends to as low as 0.9656. Further decline would likely be seen in a couple of days, and next target would be at 0.9500 area. Resistance is at 0.9770, only break above this level could signal completion of the downtrend.
