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AUDUSD’s upward movement from 0.8771 extended to as high as 0.9361. Support is at 0.9260, as long as this level holds, uptrend is expected to continue, and next target would be at 0.9400 area. On the downside, the pair is now facing 0.9381 (Apr 12 high), minor consolidation would more likely be seen before breaking above this level, a break below 0.9260 support will indicate that minor consolidation of uptrend is underway, then pullback to 0.9200 could be seen.



Daily Forex Forecast

USDCHF broke above the downtrend line from 1.0624 to 1.0450, suggesting lengthier consolidation of downtrend is underway. Range trading between 1.0060 and 1.0350 would more likely be seen in next several days. Key support is at 1.0060, a breakdown below this level will indicate that the downtrend from 1.1730 (Jun 1 high) has resumed, then deeper decline could be seen to 1.0000 area.



Daily Forex Analysis

EURUSD trades in a narrow range above 1.2659, a breakdown below this level will indicate that the downtrend from 1.2917 has resumed, then another fall towards 1.2587 previous low could be seen. Resistance is at 1.2765, a break above this level will suggest that a cycle bottom had been formed at 1.2659 on 4-hour chart, then further rally towards 1.2917 resistance could be expected to follow.



Daily Forex Signals

GBPUSD continues its downward movement from 1.5997 and the fall extended to as low as 1.5296 level. Key resistance is now at 1.5488, as long as this level holds, downtrend is expected to continue and next target would be at 1.5200 area. However, a break above 1.5488 key resistance will indicate that the downtrend from 1.5997 has terminated, then the following upward move could bring price to 1.5600-1.5700 area.



Daily Forex Forecast