Daily Forex Analysis - August 3, 2009

AUDUSD Analysis. AUDUSD breaks above 0.8337 preceding high resistance, suggesting that the uptrend from 0.7703 has resumed. Further rally is today in favor and next target is at 0.8500 zone. Near term hold is at 0.8300, as daylong as this take holds, the brief term uptrend from 0.8124 module continue. attorney hold is today located at the rising way line from 0.7703 to 0.8124 today at 0.8195, below the way line hold module indicate that the rise from 0.7703 has completed.

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USDCAD Analysis. USDCAD stays in the trading range between 1.0749 and 1.0933. Moving oblique is due in a couple of days. However, the price state in the trading range is more likely consolidation of downtrend from 1.1723, deeper decline is still possible to 1.0500 after consolidation.

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USDJPY Analysis. USDJPY has formed a brief term cycle top at 95.88 take on 4-hour chart. Deeper decline is possible to effort 94.01 support, a break below this take module suggesting that the uptrend from 91.73 has complete at 95.88 take already, then boost fall towards 91.73 preceding baritone could be seen to follow.

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GBPUSD Analysis. GBPUSD breaks above 1.6743 preceding high resistance. Further rally is possible to 1.6850 in a couple of days. Initial hold is at 1.6650 followed by 1.6610, as daylong as these levels hold, the brief term uptrend from 1.6339 module continue.

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EURUSD Analysis. EURUSD breaks above 1.4304, boost rise is due to effort 1.4338 resistance, a break above this take module suggest that the uptrend from 1.2456 (Mar 4 low) has resumed. Near term hold is at 1.4170, as daylong as this take holds, the brief term uptrend from 1.4007 module continue.

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USDCHF Analysis. USDCHF drops sharply from 1.0933 and reaches as baritone as 1.0657, suggesting that the pair relic trading in range between 1.0590 and 1.1021, moving oblique without way is due in next several days.

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