USDCAD Analysis.
USDCAD is in consolidation of the downtrend from 1.0318. Lengthier sideways movement in a range between 0.9905 and 1.0050 would likely be seen in a couple of days. Key resistance remains at 1.0050, as long as this level holds, we’d expect downtrend to resume, and one more fall towards 0.9800 is possible. On the upside, a break above 1.0050 will indicate that the downward movement from 1.0318 has completed, then the following uptrend could bring price back to 1.0400 area.
EURUSD Analysis.
EURUSD’s upward movement from 1.2975 extends to as high 1.3486. Further rise is still possible after a minor consolidation, and next target would be at 1.3550 area. Support is now at 1.3350, as long as this level holds, uptrend will continue.
AUDUSD Analysis.
AUDUSD remains in uptrend from 0.9861, the fall from 1.0844 is likely consolidation of the uptrend. Another rise to test 1.0844 resistance is possible, a break above this level will signal resumption of the uptrend. Key support is now at 1.0596, only break below this level could signal completion of the uptrend.
USDCHF Analysis.
USDCHF’s downward movement extends to as low as 0.8931. Further decline could be expected after a minor consolidation, and next target would be at 0.9030, as long as this level holds, the downtrend will continue.
USDJPY Analysis.
USDJPY breaks above the upper line of the price channel on 4-hour chart, then pulls back from 81.65, suggesting that a cycle top is being formed. Consolidation of the uptrend from 76.02 could be seen in a couple of days. Support remains at the lower border of the price channel, only a clear break below the channel could signal completion of the uptrend.
GBPUSD Analysis.
GBPUSD is facing 1.5928 resistance, a break above this level will signal resumption of the uptrend from 1.5236, then next target would be at 1.6000 area.
