AUDUSD Analysis.
AUDUSD is facing the resistance of the downward trend line on 4-hour chart. As long as the trend line resistance holds, the rise from 1.0226 could be treated as consolidation of the downtrend, and another fall to 1.0200 is still possible. However, a clear break above the trend line resistance will indicate that the downtrend from 1.0597 has completed at 1.0226 already, then the following upward movement could bring price to 1.0700 zone.
USDJPY Analysis.
USDJPY moves sideways in a trading range between 92.17 and 94.43. As long as 92.17 support holds, the price action in the range is treated as consolidation of the uptrend from 79.07 (Nov 9, 2012 low), another rise to 96.00 area could be expected after consolidation. However, a breakdown below 92.17 will indicate that lengthier consolidation of the uptrend is underway, then deeper decline to 91.00-91.50 area is possible.
GBPUSD Analysis.
GBPUSD’s downward movement from 1.6339 extends to as low as 1.5524. Further decline is still possible and next target would be at 1.5450 area. Resistance is at 1.5650, followed by 1.5800, only break above these levels could signal completion of the downtrend.
EURUSD Analysis.
EURUSD breaks above the downward trend line on 4-hour chart, suggesting that a cycle bottom has been formed at 1.3353, and the fall from 1.3711 has completed. Further rise could be expected and next target would be at 1.3600 area. Support is at 1.3353, only break below this level could trigger another fall to 1.3200 zone.
USDCHF Analysis.
USDCHF remains in uptrend from 0.9021, the fall from 0.9214 is likely consolidation of the uptrend. Another rise could be expected after consolidation, and next target would be at 0.9250 area. Support is at 0.9140, only break above this level could signal completion of the uptrend.
USDCAD Analysis.
USDCAD has formed a cycle top at 1.0088 on 4-hour chart. Further decline would likely be seen and next target would be at 0.9985 area. Resistance is at 1.0088, only break above this level could trigger another rise towards 1.0200.
