USDCAD Daily Analysis - February 24, 2017 Forex Analysis

USDCAD broke below the bottom of the upward price channel on 4-hour chart, indicating that the upward movement from 1.3009 is complete. Another fall to test 1.2968 support could be seen over the next several days.

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AUDUSD Daily Analysis - February 24, 2017 Forex Analysis

AUDUSD's upward movement from 0.7159 (Dec 26, 2016 low) extended further to as high as 0.7740. 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 0.7800 area. Key support is at 0.7605, only break below this level could signal completion of the uptrend.

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EURUSD Daily Analysis - February 24, 2017 Forex Analysis

EURUSD remains in downtrend from 1.0828, the price action from 1.0521 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 pair stays in the channel, the downtrend could be expected to resume and further decline to 1.0400 area is still possible. Key resistance is at 1.0679, only break above this level could signal completion of the downtrend.

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