USDCAD Daily Analysis - October 6, 2016 Forex Analysis

USDCAD is in downtrend from 1.3280, the rise from 1.3047 would possibly be correction of the downtrend. As long as 1.3280 resistance holds, the downtrend could be expected to resume, and another fall towards 1.3000 is possible. On the upside, a break of 1.3280 resistance will indicate that the uptrend from 1.2763 (Aug 18 low) has resumed, then next target would be at 1.3500 area.

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USDJPY Daily Analysis - October 6, 2016 Forex Analysis

USDJPY's upward movement from 100.08 extended to as high as 103.66. Further rise could be expected after a minor consolidation, and next target would be at 106.00 area. Support is at 102.50, as long as this level holds, the uptrend will continue.

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AUDUSD Daily Analysis - October 6, 2016 Forex Analysis

AUDUSD is facing 0.7589 support, a breakdown below this level will indicate that the uptrend from 0.7441 had completed at 0.7710 already, then the following downward movement could bring price to 0.7300 zone. On the upside, as long as 0.7589 support holds, the fall from 0.7710 would possibly be consolidation of the uptrend, further rise to 0.7900 area is still possible after consolidation.

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GBPUSD Daily Analysis - October 6, 2016 Forex Analysis

GBPUSD's downward movement from 1.3445 extended to as low as 1.2685. Further decline could be expected after a minor consolidation, and next target would be at 1.2500 area. Near term resistance is at 1.2850, as long as this level holds, the downtrend will continue. Key resistance is located at that downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.

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EURUSD Daily Analysis - October 6, 2016 Forex Analysis

EURUSD failed to break below 1.1123 support and stayed in the trading range between 1.1123 and 1.1279. Sideways movement in the range could be expected to continue in a couple of days. Support is at 1.1123, a breakdown below this level could bring price to 1.1000 zone. Resistance is at 1.1279, above this level will indicate that the sideways movement between 1.1123 and 1.1326 is complete, then further rise to 1.1500 area could be seen.

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