USDCAD Analysis.
USDCAD stays in a trading range between 1.0216 and 1.0341. Support is at 1.0216, as long as this level holds, the price action in the range could be treated as consolidation of the uptrend from 0.9932, another rise to 1.0400 area could be expected after consolidation. On the downside, a breakdown below 1.0216 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 moves sideways in a range between 1.2956 and 1.3161. Resistance is at 1.3161, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 1.3711, and another fall to 1.2800 area is still possible. However, a break above 1.3161 resistance will indicate that a cycle bottom has been formed at 1.2956 on 4-hour chart, and the downward movement from 1.3711 has completed, then the following upward movement could bring price back towards 1.4000.
AUDUSD Analysis.
AUDUSD breaks above 1.0299 resistance, suggesting that the uptrend from 1.0115 has resumed. Further rise could be expected and next target would be at 1.0350 area. Support is at 1.0250, as long as this level holds, the uptrend will continue.
USDCHF Analysis.
USDCHF remains in uptrend from 0.9021, the fall from 0.9552 is treated as consolidation of the uptrend. Further rise is still possible after a minor consolidation, and next target would be at 0.9600 area. Initial support is at 0.9465, followed by 0.9400, and the key support is located at the upward trend line on 4-hour chart, only a clear break below the trend line could signal completion of the uptrend.
USDJPY Analysis.
USDJPY continues its upward movement from 90.93 and the rise extends to as high as 96.70. Further rise could be expected after a minor consolidation and next target would be at 98.00 area. Support is now at 95.50, only break below this level could bring price back to 93.40 zone.
GBPUSD Analysis.
GBPUSD stays in a downward price channel on 4-hour chart, and remains in downtrend from 1.6339. Resistance is at the upper line of the channel, as long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.4800 area, only a clear break above the channel resistance could signal completion of the downtrend.
