USDCAD Daily Analysis - January 23, 2017 Forex Analysis

USDCAD remains in uptrend from 1.3018, the fall from 1.3387 is likely consolidation of the uptrend. Range trading between 1.3240 and 1.3387 is possible in a couple of days. Near term support is at 1.3240, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.3500 area.

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USDJPY Daily Analysis - January 23, 2017 Forex Analysis

After touching that downward trend line on 4-hour chart, USDJPY pulled back to 113.65, indicating that the pair remains in downtrend from 118.60. Further decline is still possible in a couple of days, and next target would be at 110.00 area. Key resistance is at 115.62, only break above this level could signal completion of the downtrend.

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AUDUSD Daily Analysis - January 23, 2017 Forex Analysis

AUDUSD remains in uptrend from 0.7159, and the rise extended to as high as 0.7588. Near term support is at the bottom of the price channel on 4-hour chart. As long as the channel support holds, the uptrend could be expected to continue, and next target would be at 0.7700 area. Key support is at 0.7448, only break below this level could signal completion of the uptrend.

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GBPUSD Daily Analysis - January 23, 2017 Forex Analysis

GBPUSD is in consolidation of the uptrend from 1.1986. Range trading between 1.2180 and 1.2415 would likely be seen in a couple of days. Support is at 1.2180, as long as this level holds, the uptrend could be expected to resume, and further rise to 1.2650 area is possible.

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EURUSD Daily Analysis - January 23, 2017 Forex Analysis

EURUSD broke above 1.0719 resistance and continued its upward movement from 1.0340. Further rise could be expected and next target would be at 1.0800 area. Support is located at the upward trend line on 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.

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