USDCAD Daily Analysis - December 8, 2016 Forex Analysis

USDCAD continued its downward movement from 1.3588 and the fall extended to as low as 1.3213. Further decline is still possible after a minor consolidation, and next target would be at 1.3100 area. Resistance is at 1.3355, only break above this level could signal completion of the downtrend.

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AUDUSD Daily Analysis - December 8, 2016 Forex Analysis

AUDUSD broke above 0.7497 resistance, indicating that the uptrend from 0.7310 has resumed. Further rise could be expected in a couple of days, and next target would be at 0.7600 zone. Support is at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend will continue.

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GBPUSD Daily Analysis - December 8, 2016 Forex Analysis

GBPUSD is facing the support of the upward price channel on 4-hour chart. As long as the channel support holds, the fall from 1.2774 could be treated as consolidation of the uptrend from 1.2302 and further rise to 1.2900 area is still possible. On the downside, a clear break below the channel support will indicate that the uptrend had completed at 1.2774 already, then the following downward movement could bring price back to 1.2000 zone.

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