USDCAD Daily Analysis - January 11, 2017 Forex Analysis

USDCAD moved sideways in a narrow range between 1.3178 and 1.3277. As long as 1.3340 resistance holds, the sideways movement could be treated as consolidation of the downtrend from 1.3598, and further decline to 1.3100 area is still possible after consolidation.

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USDJPY Daily Analysis - January 11, 2017 Forex Analysis

USDJPY is testing 114.73 support, as long as this level holds, the fall from 118.66 could be treated as consolidation of the uptrend from 101.18 (Nov 9, 2016 low), and another rise towards 120.00 could be expected after consolidation. On the upside, a breakdown below 114.73 support will indicate that the uptrend had completed at 118.66 already, then further decline to 112.50 area could be seen.

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AUDUSD Daily Analysis - January 11, 2017 Forex Analysis

AUDUSD's upward movement extended to as high as 0.7384. Support is at 0.7287, as long as this level holds, the uptrend could be expected to continue, and further rise to 0.7450 area is still possible. Only break below 0.7287 support could signal completion of the uptrend.

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GBPUSD Daily Analysis - January 11, 2017 Forex Analysis

GBPUSD's downward movement from 1.2774 extended to as low as 1.2107. Further decline is still possible and next target would be at 1.2000 area. Resistance levels are at 1.2300 and 1.2432, only break above these levels could signal completion of the downtrend.

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EURUSD Daily Analysis - January 11, 2017 Forex Analysis

EURUSD moved sideways below 1.0653 resistance. A break of this level will confirm that the pair is in uptrend from 1.0340, then the following upward movement could bring price to 1.0800 area. Near term support is at 1.0475, a breakdown below this level could bring price back to test 1.0340 support.

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