GBPUSD Analysis.
GBPUSD had reached the rising trend line on 4-hour chart. However, the fall from 1.6277 is still treated as consolidation of uptrend from 1.5344 (Dec 28, 2010 low), and rebound from the trend line is still possible later today. Support is now at 1.6012, only break below this level could indicate that the rise from 1.5344 is complete, then the following downward movement could bring price to 1.5800 area.
USDCHF Analysis.
After consolidation, USDCHF continued its upward movement from 0.9328 and reached as high as 0.9702 level. Further rise is still possible later today and next target would be at 0.9800 area. Support is at 0.9630, as long as this level holds, uptrend could be expected to continue.
USDJPY Analysis.
USDJPY’s upward movement extended to as high as 83.39 level. Further rise is still possible after a minor consolidation and next target would be at 84.00 area. Support is at 82.60, only break below this level could indicate that the rise from 81.13 is complete.
AUDUSD Analysis.
AUDUSD failed to break above 1.0255 previous high and pulled back from 1.0199 level. Deeper decline could be expected in a couple of days and target would be at 0.9600 area. Resistance levels are at 1.0030 and 1.0065, as long as these levels hold, downtrend from 1.0199 will continue.
USDCAD Analysis.
USDCAD is in short term uptrend from 0.9831. Further rise towards 1.0057 resistance would likely be seen in a couple of days. Support is at 0.9915, as long as this level holds, uptrend from 0.9813 will continue.
EURUSD Analysis.
EURUSD is in downtrend from 1.3861 and the bounce from 1.3508 is treated as correction of downtrend. Another fall to 1.3400 would likely be seen in a couple of days. Resistance levels are at 1.3640 and 1.3745.
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