Being contained by 0.9130 (Jun 13 low) support, USDCHF rebounded from 0.9147, and moved sideways in a range between 0.9147 and 0.9289. Initial resistance is at 0.9289, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 0.9396, another fall to re-test 0.9130 could be seen. On the upside, a break above 0.9289 resistance will indicate that lengthier consolidation of the longer term downtrend from 0.9751 is underway, then further rise to 0.9350 area is possible.
GBPUSD is testing the support of the lower line of the price channel on 4-hour chart. As long as the channel support holds, the fall from 1.5717 could be treated as consolidation of the uptrend from 1.5102, one more rise towards 1.6000 is still possible. On the downside, a clear break below the channel support will indicate that the uptrend from 1.5102 is complete, then deeper decline to 1.5400 area could be seen.
USDJPY is in uptrend from 95.81, the fall from 99.14 could be treated as consolidation of the uptrend. Support is now located at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to resume, and next target would be at 100.50 area, only a clear break below the trend line support could trigger another fall towards 95.00.
AUDUSD continues its sideways movement in a range between 0.8847 and 0.9317. Key resistance is at 0.9317, 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 towards 0.8500 is still possible after consolidation. On the upside, a break above 0.9317 resistance will indicate that the downtrend from 1.0582 had completed at 0.8847 already, then the following upward movement could bring price to 1.0000 zone.
No changed in our view, USDCAD remains in uptrend from 1.0275, the fall from 1.0568 is likely consolidation of the uptrend. As long as 1.0450 support holds, we’d expect uptrend to resume, and one more rise to 1.0700 area is still possible. However, a breakdown below 1.0450 support will suggest that the uptrend from 1.0275 had completed at 1.0568 already, then the following downward movement could bring price back to 1.0200 zone.
EURUSD is in consolidation of the uptrend from 1.2756. Another fall to test 1.3206 support would likely be seen, as long as this level holds, the uptrend could be expected to resume, and one more rise towards 1.3500 is still possible after consolidation.