GBPUSD Analysis.
GBPUSD remains in uptrend from 1.5197, the fall from 1.5605 is likely minor consolidation of the uptrend. Support is at 1.5465, as long as this level holds, the uptrend could be expected to resume, and next target would be at 1.5700 area. On the downside, a breakdown below 1.5465 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 from 1.4831 to 1.5034 could be seen.
USDCAD Analysis.
USDCAD’s bounce from 1.0051 extended to as high as 1.0132 last Friday. Key resistance is at 1.0145, as long as this level holds, the bounce could be treated as consolidation of the downtrend from 1.0293, another fall towards 0.9900 is possible after consolidation. However, a break above 1.0145 will indicate that the downward movement from 1.0293 had completed at 1.0051 already, then the following upward move could bring price to 1.0250 zone.
USDJPY Analysis.
USDJPY is facing 99.94 resistance again, a break above this level will indicate that the uptrend from 77.14 (Sep 13, 2012 low) has resumed, then further rise towards 105.00 could be seen. On the other side, as long as 99.94 resistance holds, lengthier sideways movement could be expected to continue, and one more fall to 96.50 area is still possible.
EURUSD Analysis.
EURUSD stays in a trading range between 1.2955 and 1.3242. As long as 1.2955 support holds, the price action from 1.3201 could be treated as consolidation of the uptrend from 1.2747, another rise towards 1.3500 could be expected, only break below 1.2955 could signal completion of the uptrend.
USDCHF Analysis.
USDCHF’s rise from 0.9247 extended to high as 0.9399. As long as 0.9400 resistance holds, the rise is treated as consolidation of the downtrend from 0.9498, range trading between 0.9247 and 0.9400 would likely be seen in a couple of days.
AUDUSD Analysis.
AUDUSD is in downtrend from 1.0582, the price action from 1.0220 is treated as consolidation of the downtrend. Range trading between 1.0220 and 1.0384 would likely be seen in a couple of days. As long as 1.0384 resistance holds, the downtrend could be expected to resume, and another fall towards 1.0000 is still possible.
