GBPUSD Analysis.
GBPUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.4831, the fall from 1.5411 is treated as consolidation of the uptrend. As long as the trend line support holds, the uptrend could be expected to resume, and another rise towards 1.5600 is still possible after consolidation. However, a clear break below the trend line will suggest that the uptrend from 1.4831 had completed at 1.5411 already, then the following downward movement could bring price to 1.4500 zone.
USDCAD Analysis.
USDCAD remains in uptrend from 1.0083, the fall from 1.0293 is likely consolidation of the uptrend. Another rise to test 1.0341 resistance is still possible after consolidation, a break above this level will indicate that the longer term uptrend from 0.9632 (Sep 14, 2012 low) has resumed, then further rise to 1.0500 area could be seen to follow. However, as long as 1.0341 resistance holds, the rise from 1.0083 would possibly be correction of the downtrend from 1.0341, another fall could be expected after correction, and a breakdown below 1.0200 support could trigger another fall towards 1.0000.
USDJPY Analysis.
USDJPY’s upward movement from 95.83 extends to as high as 98.68. Another rise to test 99.94 resistance would likely be seen, a break above this level will signal resumption of the uptrend from 77.14 (Sep 13, 2012 low), then further rise towards 105.00 could be seen. On the downside, as long as 99.94 resistance holds, consolidation of the uptrend from 77.14 could be expected to continue, and one more fall to 94.00 – 94.50 area to complete the consolidation is still possible.
USDCHF Analysis.
USDCHF remains in downtrend from 0.9553, the rise from 0.9206 is likely consolidation of the downtrend. Further rally is still possible, and the target would be at 0.9400 area. Support is at 0.9206, only break below this level could trigger another fall towards 0.9000.
AUDUSD Analysis.
AUDUSD remains in downtrend from 1.0582. Further decline is still possible after a minor consolidation, and next target would be at 1.0200 area. Resistance is at 1.0400, only break above this level could signal completion of the downtrend.
EURUSD Analysis.
EURUSD remains in uptrend from 1.2747, the fall from 1.3101 is likely consolidation of the uptrend. Deeper decline is still possible and the target would be at 1.2900 – 1.2950 area. Resistance is at 1.3201, only break above this level could trigger another rise towards 1.3500.
