AUDUSD Analysis.
AUDUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.0597, the rise from 1.0226 is treated as consolidation of the downtrend. As long as the trend line resistance holds, another fall could be expected after consolidation, and next target would be at 1.0200 area. On the upside, a clear break above the trend line resistance will indicate that a cycle bottom has been formed at 1.0226, and the fall from 1.0597 has completed, then the following upward movement could bring price to 1.0700 zone.
USDJPY Analysis.
USDJPY remains in uptrend from 79.07 (Nov 9, 2012 low), the price action from 94.05 is treated as consolidation of the uptrend. Support is at 92.17, as long as this level holds, the uptrend could be expected to resume, and another rise to 96.00 is still possible. On the downside, a breakdown below 92.17 will indicate that lengthier consolidation of the uptrend is underway, then deeper decline to 91.00-91.50 area could be seen.
GBPUSD Analysis.
GBPUSD’s downward movement from 1.6339 extends to as low as 1.5573. Further decline would likely be seen after consolidation, and next target would be at 1.5500 area. Resistance is at 1.5800, only break above this level could signal completion of the downtrend.
EURUSD Analysis.
EURUSD is facing the resistance of the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to resume, and another fall to 1.3250 is is still possible. However, a clear break above the trend line will indicate that the fall from 1.3711 has completed, then further rise towards 1.3711 previous high could be seen.
USDCHF Analysis.
USDCHF’s upward movement from 0.9021 extends to as high as 0.9214. Further rise is still possible after a minor consolidation, and next target would be at 0.9250 area. Support levels are at 0.9125 and 0.9100, only break below these levels could trigger another fall to 0.8950 zone.
USDCAD Analysis.
USDCAD failed to break above 1.0100 previous high resistance and pulled back from 1.0086, suggesting that a cycle top has been formed on 4-hour chart. Now the fall would possibly be resumption of the downtrend from 1.0100, further decline would likely be seen and next target would be at 0.9950 area.
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