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Daily Forex Reports
Tuesday, 25 August 2015 07:03 UTC
GBPAUD made a strong break past the key resistance around the 2.1400-2.1500 levels, before zooming up to the 2.2300 area. From there, the pair showed signs of pulling back and using the Fibonacci tool on the latest swing high and low on the 4-hour.
Monday, 24 August 2015 05:47 UTC
NZDUSD is forming a descending triangle on its 4-hour time frame, making lower highs and finding support around the .6500 major psychological level. Price just got rejected on its latest test of the triangle resistance and is making its way back.
USDCAD moved sideways in a narrow range between 1.2860 and 1.3213. Support is at 1.2860, as long as this level holds, the sideways movement could be treated as consolidation of
the uptrend from 1.1919, and further rise to 1.4000 area could be.
USDJPY failed to break above 125.85 resistance, indicating that lengthier consolidation for the uptrend from 115.56 is needed. Range trading between 120.41 and 125.85 would likely be seen over the next several weeks. Support is at 120.41, as long.
AUDUSD stays in the downward price channel on daily chart, and remains in downtrend from 0.8162. As long as the channel resistance holds, the downtrend could be expected to continue, and further decline to 0.6800 area is possible. However, a clear.
GBPUSD remains in uptrend from 1.4565, the price action from 1.5814 could be treated as consolidation of the uptrend. Sideways movement in a range between 1.5170 and 1.5929 could be expected to continue over the next several weeks. Resistance is.Source: forexcycle.com