USDCAD Daily Analysis - February 6, 2017 Forex Analysis

USDCAD moved sideways in a range between 1.2968 and 1.3102. Further decline could be expected as long as the pair is below 1.3102 resistance, and next target would be at 1.2800 area. Key resistance is at 1.3168, only break above this level could signal completion of the downtrend.

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USDJPY Daily Analysis - February 6, 2017 Forex Analysis

USDJPY remains in downtrend from 118.66 (Dec 15, 2016 high). Further decline could be expected after a minor consolidation and next target would be at 110.00 area. Near term resistance is at 113.95, only break above this level could trigger another rise to test 115.62 resistance.

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AUDUSD Daily Analysis - February 6, 2017 Forex Analysis

AUDUSD remains in uptrend from 0.7159 (Dec 26, 2016 low), the fall from 0.7695 is likely consolidation of the uptrend. Near term support is at 0.7610, as long as the pair stays above this level, the uptrend could be expected to continue, and next target would be at 0.7800 area. Key support is at 0.7511, only break below this level could signal completion of the uptrend.

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GBPUSD Daily Analysis - February 6, 2017 Forex Analysis

GBPUSD is in consolidation of the uptrend from 1.1986. Range trading between 1.2412 and 1.2706 would likely be seen in a couple of days. Support is at 1.2412, as long as this level holds, the uptrend could be expected to resume, and further rise to 1.2900 area is still possible. On the downside, a breakdown below 1.2412 support will indicate that the uptrend had completed at 1.2706 already, then the following downward movement could bring price back to 1.2100 zone.

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EURUSD Daily Analysis - February 6, 2017 Forex Analysis

EURUSD remains in uptrend from 1.0340, the fall from 1.0828 is likely consolidation of the uptrend. 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 1.0900 area. Key support is at 1.0620, only break below this level could signal completion of the uptrend.

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