USDCAD Daily Analysis - December 9, 2016 Forex Analysis

USDCAD's downward movement from 1.3588 extended to as low as 1.3183. 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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USDJPY Daily Analysis - December 9, 2016 Forex Analysis

USDJPY remains in uptrend from 101.18, the fall from 114.82 is likely consolidation of the uptrend. Support levels are at 112.83 and 111.35, as long as these levels hold, the uptrend could be expected to resume, and further rise to 118.00 area is still possible.

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AUDUSD Daily Analysis - December 9, 2016 Forex Analysis

AUDUSD is facing the support of the upward trend line on 4-hour chart. As long as the trend line support holds, the uptrend from 0.7369 could be expected to continue, and next target would be at 0.7600 area. However, a clear break below the trend line support will indicate that the uptrend had completed at 0.7508 already, then the following downward movement could bring price back to test 0.7310 support.

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GBPUSD Daily Analysis - December 9, 2016 Forex Analysis

GBPUSD broke below the bottom of the price channel on 4-hour chart, indicating that the upward movement from 1.2302 had completed at 1.2774 already. Deeper decline could be expected in a couple of days, and next target would be at 1.2450 area. Resistance is at 1.2700, only break above this level could trigger another rise towards 1.2900.

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EURUSD Daily Analysis - December 9, 2016 Forex Analysis

EURUSD's upward movement from 1.0505 had completed at 1.0873 already. The pair is now in downtrend, deeper decline to test 1.0462 (Mar 13, 2015 low) support is possible. Near term resistance is at 1.0700, only break above this level could trigger another rise to 1.0950 zone.

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