USDCAD Daily Analysis - September 7, 2016 Forex Analysis

USDCAD's downward movement from 1.3147 extended to as low as 1.2826. Further decline to test 1.2763 support could be expected. Resistance is at 1.2925, only break above this level could signal completion of the downtrend.

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USDJPY Daily Analysis - September 7, 2016 Forex Analysis

USDJPY broke below 102.80 support, indicating that the upward movement from 99.52 had completed at 104.31 already. Further decline to test 99.52 support is possible in a couple of days, a breakdown below this level will indicate that the long term downtrend from 125.85 (Jun 5, 2015 high) has resumed, then the following downward movement could bring price to 95.00 zone.

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AUDUSD Daily Analysis - September 7, 2016 Forex Analysis

AUDUSD broke above the downward trend line on 4-hour chart, indicating that the downtrend from 0.7755 had completed at 0.7489 already. Further rise to test 0.7755 resistance could be seen over the next several days. Support level is at 0.7600, only break below this level could bring price back towards 0.7250.

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GBPUSD Daily Analysis - September 7, 2016 Forex Analysis

GBPUSD's upward movement from 1.3059 extended to as high as 1.3445. Further rise is still possible after a minor consolidation, and next target would be at 1.3600 area. Support is at 1.3275, only break below this level could bring price back to 1.2900 zone.

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EURUSD Daily Analysis - September 7, 2016 Forex Analysis

EURUSD broke above 1.1251 resistance, indicating that the downward movement from 1.1366 had completed at 1.1123 already. Further rise to test 1.1366 resistance would likely be seen over the next several days, a break of this level will signal resumption of the longer term uptrend from 1.0911 (Jun 24 low), then the following upward movement could bring price to 1.1500 area.

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