USDCAD Analysis.
Being contained by the resistance of the upper line of the price channel on 4-hour chart, USDCAD pulls back from 1.0219, suggesting that the upward movement from 1.0013 has completed. Now the fall from 1.0219 would possibly be resumption of the longer term downtrend from 1.0341 (Mar 1 high). Further decline could be expected, and next target would be at 1.0100 area. Resistance is now at 1.0219, only break above this level could trigger another rise to 1.0270 zone.
USDJPY Analysis.
USDJPY remains in uptrend from 98.58. Support is at 101.20, as long as this level holds, the uptrend could be expected to continue, and next target would be at 104.00 area. On the downside, a breakdown below 101.20 will suggest that consolidation of the uptrend is underway, then pullback to 100.00 area could be seen.
GBPUSD Analysis.
GBPUSD’s downward movement from 1.5605 extends to as low as 1.5174. Further decline could be expected, and next target would be at 1.5100 area. Resistance is at 1.5275, only break above this level will indicate that consolidation of the downtrend is underway, then range trading between 1.5170 and 1.5350 could be seen.
EURUSD Analysis.
EURUSD’s downward movement from 1.3242 extends to as low as 1.2843. Further decline to test 1.2747 previous low support is possible. Resistance is at 1.2945, only break above this level could signal completion of the downtrend.
USDCHF Analysis.
USDCHF remains in uptrend from 0.9247, and the rise extends to as high as 0.9747. Support is at 0.9615, as long as this level holds, the uptrend could be expected to continue, and next target would be at 0.9800 area, only break below 0.9615 support could signal completion of the uptrend.
AUDUSD Analysis.
AUDUSD’s downward movement from 1.0384 extends to as low as 0.9852. Further decline is still possible, and next target would be at 0.9800 area. Resistance is at 0.9950, only break above this level could signal completion of the downtrend.
