GBPUSD’s downwards movement from 1.6339 extends to as low as 1.5475. Resistance is located a the trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.5400 area. On the upside, a clear break above the trend line resistance will indicate that a cycle bottom has been formed, and consolidation of the downtrend is underway, then further rise to 1.5700 area could be seen.
AUDUSD breaks above the resistance of the downward trend line on 4-hour chart, suggesting that a cycle bottom has been formed at 1.0226, and the fall from 1.0597 has completed. Further rally would likely be seen and next target would be at 1.0450 area. Support is at 1.0300, only break below this level could trigger another fall to 1.0200 zone.
USDJPY stays 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.
EURUSD breaks below 1.3353 previous low and continues its downward movement from 1.3711. Resistance is located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, further decline is still possible and next target would be at 1.3200 area. On the upside, a clear break above the trend line resistance will suggest that the downtrend from 1.3711 has completed, then another rise towards 1.4000 could be seen.
USDCHF’s upward movement from 0.9021 extends to as high as 0.9245. Support is now at 0.9150, as long as this level holds, the uptrend could be expected to continue, and next target would be at 0.9300 area. On the other side, a breakdown below 0.9150 will indicate that the rise from 0.9021 has completed, then another fall towards 0.9000 could be seen.
USDCAD’s downward movement from 1.0088 extends to as low as 0.9999. Further decline could be expected and next target would be at 0.9950 area. Resistance is at 1.0088, only break above this level could trigger another rise towards 1.0200.