AUDUSD Analysis.
After consolidation, AUDUSD continues its upward movement from 0.8771 and reaches as high as 0.9622 level. Further rise is still possible in a couple of days and next target would be at 0.9700-0.9750 area. Key support is now at 0.9462, as long as this level holds, uptrend could b expected to continue. However, a breakdown below 0.9462 will indicate that a cycle top has been formed on 4-hour chart, then pullback to 0.9300 area could be seen to follow.
USDCAD Analysis.
USDCAD dropped sharply to 1.0225 last week, taking price to range trading between 1.0191 and 1.0378. Deeper decline to test 1.0191 is possible later today, as long as this level holds, another rise towards 1.0378 key resistance is still possible. However, a breakdown below 1.0191 will indicate that the downward move from 1.0672 has resumed, then further decline could be seen to 1.0150 area.
GBPUSD Analysis.
GBPUSD stays in a rising price channel and remains in uptrend from 1.5296 and the rise extends to as high as 1.5843 level. Support is at the lower border of the channel now at 1.5602, as long as the channel support holds, uptrend is expected to continue and target would be at the upper border of the channel. Only a clear break below the channel support could indicate that the uptrend from 1.5296 has completed, then another fall below 1.5296 previous low could be seen.
USDCHF Analysis.
USDCHF stays in a falling price channel and remains in downtrend from 1.1730 (Jun 1 high). However, the pair has reached the lower border of the channel, rebound would more likely be seen and target would be at 0.9950 area.
EURUSD Analysis.
EURUSD runs above a rising trend line and remains in uptrend from 1.2643 and the rise extends further to as high as 1.3495 level. As long as the trend line support ( now at 1.3295) holds, uptrend is expected to continue, and next target would be at 1.3600 area. Key support is at 1.3286, only break below this level will suggest that the rise from 1.2643 is complete.
USDJPY Analysis.
No changed in our view, USDJPY is in correction of uptrend from 82.87. Further fall is still possible later today and next target would be at 83.80 area. As long as 82.87 key support holds, uptrend is expected to resume and another rise to test 85.92 key resistance is still possible.
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