Daily Forex Analysis

AUDUSD Analysis.
AUDUSD remains in uptrend from 0.7703 and the price action in the trading range between 0.8089 and 0.8221 is more likely consolidation of uptrend. As long as 0.8089 support holds, we would expect uptrend to resume and further rise to test 0.8263 previous high resistance is possible. However, a break below 0.8089 will indicate that the uptrend from 0.7703 has completed at 0.8221 level already, then deeper decline could be seen to 0.8000 zone.

USDCAD Analysis.
USDCAD is testing 1.0784 previous low support, a break below this level will signal deeper decline to 1.0500 zone. Near term resistance is now at 1.0925, and key resistance is located at 1.1015, above 1.1015 level will indicate that a short term cycle bottom has been formed and the downtrend from 1.1723 has completed.

EURUSD Analysis.
EURUSD might be forming a short term cycle top at 1.4291 level on 4-hour chart, sideways consolidation in a range between 1.4119 and 1.4291 is possible later today, a break below 1.4119 level will signal deeper decline to test 1.4056 key support, below this level will indicate that the uptrend from 1.3748 (June 16 low) has completed, then further fall towards 1.3800 could be seen to follow.

USDJPY Analysis.
USDJPY remains in short term uptrend from 93.09 and the price action from 95.29 is treated as consolidation of uptrend. Further rally is still in favor and next target would be at 96.00 zone. Near term support is at 94.20, as long as this level holds, uptrend will continue.

GBPUSD Analysis.
GBPUSD is forming a short term cycle top at 1.6583 level on 4-hour chart. Deeper decline is expected to test 1.6310 key support, a break below this level will confirm the cycle top, then deeper decline could be seen to 1.6100 zone. Near term resistance is at 1.6450 and key resistance is at 1.6583, only rise above 1.6583 level will indicate that the pair is back in uptrend from 1.5984, then further rally is expected to 1.6650 level.

USDCHF Analysis.
USDCHF has formed a short term cycle bottom at 1.0622 level on 4-hour chart. Further rise is now in favor and target would be at 1.0850-1.0900 area. Near term support is at 1.0670 and key support is at 1.0622, only fall below 1.0622 level will signal deeper decline to re-test 1.0590 previous low support.