USDCAD Daily Analysis - December 1, 2016 Forex Analysis

USDCAD's downward movement from 1.3588 extended to as low as 1.3356. Further decline is still possible, and next target would be at 1.3250 area. Resistance is at 1.3540, only break above this level could trigger another another rise towards 1.3800.

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USDJPY Daily Analysis - December 1, 2016 Forex Analysis

USDJPY broke above 113.89 resistance, indicating that the uptrend from 101.18 has resumed. Further rise could be expected, and next target would be at 118.00 area. Near term support is at 112.15, as long as this level holds, the uptrend will continue. Key support is at 111.35, only break below this level could signal completion of the uptrend.

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AUDUSD Daily Analysis - December 1, 2016 Forex Analysis

AUDUSD's upward movement from 0.7310 had completed at 0.7497 already. The subsequent fall is likely resumption of the downtrend from 0.7778. Further decline to test 0.7310 is possible in a couple of days, a breakdown below this level will confirm that the downtrend has resumed, then next target would be at 0.7200 zone.

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GBPUSD Daily Analysis - December 1, 2016 Forex Analysis

GBPUSD's upward movement from 1.2302 extended to as high as 1.2540. Further rise is still possible and next target would be at 1.2600 area. Support is at 1.2400, a breakdown below this level will signal completion of the uptrend, then the following downward movement could bring price to 1.2000 area.

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EURUSD Daily Analysis - December 1, 2016 Forex Analysis

EURUSD is in consolidation of the downtrend from 1.1299. Range trading between 1.0518 and 1.0800 would likely be seen in a couple of days. Resistance is at 1.0800, as long as this level holds, the downtrend could be expected to resume, and another fall to test 1.0462 (Mar 13, 2015 low) support is still possible.

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