USDCAD Analysis.
USDCAD is facing the resistance of the upper line of the price channel on 4-hour chart, a clear break above the channel resistance will indicate that the downtrend from 1.0341 (Mar 1 high) had completed at 1.0013 already, then the following upward movement could bring price to 1.0500 area. On the downside, as long as the channel resistance holds, the price action from 1.0083 is treated as consolidation of the downtrend from 1.0341, another fall towards 0.9500 could be expected after consolidation. Support is at 1.0145, a breakdown below this level could signal completion of the short term uptrend from 1.0013.
USDJPY Analysis.
USDJPY stays within a upward price channel on 4-hour chart, and remains in uptrend from 97.01. Support is at the lower line of the channel, as long as the channel support holds, the uptrend could be expected to resume, and one more rise towards 105.00 is still possible. On the downside, a clear break below the channel support will indicate that lengthier consolidation of the longer term uptrend from 77.14 is underway, then pullback to 100.00 area could be seen.
GBPUSD Analysis.
GBPUSD remains in downtrend from 1.5605, the rise from 1.5174 is treated as consolidation of the downtrend. Resistance is at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and one more fall towards 1.5000 is still possible. On the upside, a clear break above the channel resistance will indicate that the downtrend from 1.5605 had completed at 1.5174 already, then the following upward movement could bring price to 1.6000 zone.
EURUSD Analysis.
EURUSD remains in downtrend from 1.3242, the rise from 1.2843 is likely consolidation of the downtrend. 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, the fall from 0.9747 is likely consolidation of the uptrend. Support is now at 0.9575, as long as this level holds, the uptrend could be expected to resume, and next target would be at 0.9800 area, only break below 0.9575 support could signal completion of the uptrend.
AUDUSD Analysis.
AUDUSD continues its downward movement from 1.0384, and the fall extends to as low as 0.9797. Further decline is still possible after a minor consolidation, and next target would be at 0.9700 area. Resistance is at 0.9950, only break above this level could signal completion of the downtrend.
