USDCAD Daily Analysis - January 3, 2017 Forex Analysis

USDCAD broke below 1.3471 support, indicating that the uptrend from 1.3080 had completed at 1.3598 already. Deeper decline could be expected, and the target would be at 1.3300 area. Resistance is at 1.3500, only break above this level could trigger another rise towards 1.3700.

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USDJPY Daily Analysis - January 3, 2017 Forex Analysis

No changed in our view, USDJPY remains in uptrend from 101.18 (Nov 09, 2016 low), the fall from 118.66 is likely consolidation of the uptrend. Key support is at 114.73, as long as this level holds, the uptrend could be expected to resume, and further rise to 120.00 area is still possible.

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AUDUSD Daily Analysis - January 3, 2017 Forex Analysis

AUDUSD moved sideways in a trading range between 0.7159 and 0.7246. As long as 0.7246 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 0.7524, and further decline to 0.7000 area is still possible after consolidation. On the upside, a break of 0.7246 resistance will indicate that lengthier consolidation for the downtrend is needed, then further rise to 0.7350 area could be seen.

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GBPUSD Daily Analysis - January 3, 2017 Forex Analysis

GBPUSD stays in the downward price channel on 4-hour chart, and remains in downtrend from 1.2774. As long as the channel resistance holds, the rise from 1.2202 could be treated as consolidation of the downtrend, and further decline to 1.2000 area is still possible. Only a clear break above the channel resistance could signal completion of the downtrend.

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EURUSD Daily Analysis - January 3, 2017 Forex Analysis

EURUSD remains in downtrend from 1.1299 (Nov 9, 2016 high), the rise from 1.0352 could be treated as consolidation of the downtrend. Resistance is at 1.0700, as long as this level holds, the downtrend could be expected to resume, and further decline to 1.0200 area is still possible.

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