USDCAD Daily Analysis - August 31, 2016 Forex Analysis

USDCAD's upward movement from 1.2763 extended to as high as 1.3112. Further rise could be expected after a minor consolidation, and next target would be at 1.3200 area. Support is at 1.3000, as long as this level holds, the uptrend will continue.

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USDJPY Daily Analysis - August 31, 2016 Forex Analysis

USDJPY's upward movement from 99.52 extended to as high as 103.22. Further rise is still possible over the next several days, and next target would be at 106.00 area. Support is at 101.70, only break below this level could trigger another fall to test 98.97 (Jun 24, 2016 low) support.

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AUDUSD Daily Analysis - August 31, 2016 Forex Analysis

AUDUSD continued its downward movement from 0.7755, and the fall extended to as low as 0.7500. Further decline is still possible over the next several days, and next target would be at 0.7250 area. Near term resistance is at 0.7585, only break above this level could bring price back to test the resistance of the downward trend line on 4-hour chart.

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GBPUSD Daily Analysis - August 31, 2016 Forex Analysis

GBPUSD remains in downtrend from 1.3278. Further decline could be expected in a couple of days, and next target would be at 1.2900 area. Resistance is at 1.3278, only break above this level could trigger another rise towards 1.3800.

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EURUSD Daily Analysis - August 31, 2016 Forex Analysis

EURUSD's downward movement from 1.1366 extended to as low as 1.1132. Resistance is at 1.1210, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.1000 area. On the upside, a break of 1.1210 resistance will indicate that the downward movement had completed at 1.1132 already, then the following upward movement could bring price back to 1.1500 zone.

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