AUDUSD Analysis.
AUDUSD stays in a trading range between 0.9528 and 0.9791. Key resistance is now at 0.9791, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 1.0582 (Apr 11 high), one more fall to 0.9300 area is still possible after consolidation. On the upside, a break above 0.9791 resistance will indicate that lengthier consolidation of the downtrend is underway, then further rise to 0.9850 – 0.9900 area could be seen.
USDCAD Analysis.
USDCAD remains in uptrend from 1.0013, the fall from 1.0420 is likely consolidation of the uptrend. Further rise to test 1.0420 resistance would likely be seen, a break above this level could signal resumption of the uptrend, then next target would be at 1.0500 area. Key support is at 1.0261, only break below this level will indicate that the uptrend from 1.0013 is complete.
EURUSD Analysis.
EURUSD remains in uptrend from 1.2796. Further rise could be expected after a minor consolidation, and next target would be at 1.3200 area. Support is at 1.2940, only break below this level could signal completion of the uptrend.
GBPUSD Analysis.
GBPUSD remains in uptrend from 1.5008. Further rise could be expected after a minor consolidation and next target would be at 1.5500 area. Support is at 1.5230, only break below this level could signal completion of the uptrend.
USDJPY Analysis.
USDJPY stays in a downward price channel on 4-hour chart, and remains in downtrend from 103.73. Resistance is located at the upper line of the channel, as long as the channel resistance holds, the downtrend could be expected to continue, and deeper decline to 98.00 area is still possible, only a clear break above the channel resistance could signal completion of the downtrend.
USDCHF Analysis.
USDCHF remains in downtrend from 0.9838. Further decline could be expected after a minor consolidation, and next target would be at 0.9300 area. Resistance is at 0.9550, only break above this level could signal completion of the downtrend.
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