USDCAD Analysis.
After touching the lower line of the price channel on 4-hour chart, USDCAD rebounded from 1.0254, suggesting that a cycle bottom is being formed. Further rise would likely be seen, and next target would be at 1.0400 area. Key support is at 1.0216, only break below this level will indicate that lengthier consolidation of the longer term uptrend from 0.9815 (Jan 11 low) is underway, then deeper decline to 1.0150 area could be seen.
EURUSD Analysis.
EURUSD is facing 1.2996 previous low support, a breakdown below this level will indicate that the downtrend from 1.3711 has resumed, then further decline to 1.2800 area could be seen. Resistance levels are at 1.3080 and 1.3180, only break above these levels could signal completion of the downtrend.
AUDUSD Analysis.
After touching the upper line of the price channel on 4-hour chart, AUDUSD pulled back from 1.0299. However, the fall would possibly be correction of the uptrend from 1.0115, another rise towards 1.0400 is still possible after correction. Support levels are at 1.0200 and 1.0160.
USDCHF Analysis.
USDCHF breaks above 0.9462 resistance and continues its upward movement from 0.9021. Further rise could be seen and next target would be at 0.9600 area. Support is at 0.9393, followed by the upward trend line on 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.
USDJPY Analysis.
USDJPY is facing 94.54 resistance, a break above this level will indicate that the uptrend from 77.14 has resumed, then further rise towards 100.00 could be seen. On the downside, as long as 94.54 resistance holds, one more fall to 90.00 area to complete the consolidation is still possible.
GBPUSD Analysis.
GBPUSD breaks below 1.4986 support, suggesting that the downtrend from 1.5878 has resumed. Further decline would likely be seen, and next target would be at 1.4900 area. Resistance is now at 1.5225, only break above this level could signal completion of the downtrend.
