USDCAD Daily Analysis - January 13, 2017 Forex Analysis

USDCAD continued its downward movement from 1.3598, and the fall extended to as low as 1.3029. Near term resistance is now at 1.3190, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.2900 area. Key resistance is at 1.3293, only break above this level could signal completion of the downtrend.

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USDJPY Daily Analysis - January 13, 2017 Forex Analysis

USDJPY's downward movement from 118.66 extended to as low as 113.75. Resistance is at the downward trend line on 4-hour chart. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 112.50 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

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AUDUSD Daily Analysis - January 13, 2017 Forex Analysis

AUDUSD stays above the upward trend line on 4-hour chart, and remains in uptrend from 0.7159. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 0.7600 area. Only a clear break below the trend line support could signal completion of the uptrend.

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GBPUSD Daily Analysis - January 13, 2017 Forex Analysis

GBPUSD remains in downtrend from 1.2774 (Dec 6, 2016 high), the rise from 1.2037 is likely consolidation of the downtrend. Near term resistance is at the top of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.1900 area. Key resistance is at 1.2432, only break above this level will indicate that the downtrend had completed at 1.2037 already, then the following upward movement could bring price to 1.3000 zone.

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EURUSD Daily Analysis - January 13, 2017 Forex Analysis

EURUSD broke above 1.0653 resistance, indicating that the pair is in short term uptrend from 1.0340. Further rise could be expected, and next target would be at 1.0800 area. Support is at the upward trend line on 4-hour chart, only break below the trend line support could signal completion of the uptrend.

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