USDCAD Analysis.
USDCAD remains in downtrend from 1.0293, the rise from 1.0051 is likely consolidation of the downtrend. Resistance is at 1.0145, as long as this level holds, another fall could be expected after consolidation, and a breakdown below 1.0051 could signal resumption of the downtrend. On the upside, a break above 1.0145 will suggest that the downtrend had completed at 1.0051 already, then the following upward movement could bring price back to 1.0250 area.
USDJPY Analysis.
USDJPY stays in a trading range between 95.83 and 99.94. As long as 95.83 support holds, the price action in the range is treated as consolidation of the uptrend from 77.14 (Sep 13, 2012 low), one more rise towards 105.00 could be expected after consolidation, and a break above 99.94 could signal resumption of the uptrend. On the downside, a breakdown below 95.83 support will indicate that the uptrend from 77.14 had completed at 99.94 already, then pullback to 90.00 area could be seen to follow.
EURUSD Analysis.
After touching 1.3201 resistance, EURUSD pulls back from 1.3242, suggesting that lengthier consolidation of the uptrend from 1.2747 is underway. Deeper decline could be seen, and the target would be at 1.2900 – 1.3000 area. Resistance is at 1.3125, only break below this level could trigger another rise towards 1.3500.
GBPUSD Analysis.
GBPUSD remains in short term uptrend from 1.5197. Support is at 1.5465, as long as this level holds, further rise is still possible and next target would be at 1.5700 area. On the downside, a breakdown below 1.5465 support will indicate that consolidation of the longer term uptrend from 1.4831 (Mar 12 low) is underway, then deeper decline toward the upward trend line could be seen.
USDCHF Analysis.
Being contained by 0.9206 support, USDCHF rebounds from 0.9247. However, the rise is likely consolidation of the downtrend from 0.9498, range trading between 0.9247 and 0.9400 is possible in a couple of days. As long as 0.9400 resistance holds, the downtrend could be expected to resume, and another fall towards 0.9000 could be expected after consolidation.
AUDUSD Analysis.
Being supported by 1.0220, AUDUSD rebounds to as high as 1.0278. However, the rise is treated as consolidation of the downtrend from 1.0384. Resistance is at 1.0300, as long as this level holds, the downtrend could be expected to resume, and another fall towards 1.0000 is still possible.
