AUDUSD Daily Analysis - December 7, 2016 Forex Analysis

AUDUSD failed to break above 0.7497 resistance. Another fall to test 0.7310 support would likely be seen in a couple of days, a breakdown below this level will confirm that the longer term downtrend from 0.7778 has resumed, then next target would be at 0.7200 area. On the upside, a break of 0.7497 resistance will indicate that the uptrend from 0.7310 has resumed, then the following upward movement could bring price to 0.7600 area.

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GBPUSD Daily Analysis - December 7, 2016 Forex Analysis

GBPUSD remains in uptrend from 1.2302, the fall from 1.2774 is likely consolidation of the uptrend. Support is at the bottom of the price channel on 4-hour chart. As long as the channel support holds, the uptrend could be expected to resume, and further rise to 1.2900 area is still possible. Only a clear break below the channel support could signal completion of the uptrend.

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EURUSD Daily Analysis - December 7, 2016 Forex Analysis

EURUSD remains in uptrend from 1.0505, the fall from 1.0796 is likely consolidation of the uptrend. Further rise could be expected after consolidation and next target would be at 1.0900 area. Support is at 1.0600, only break below this level could trigger another fall towards 1.0300.

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