USDCAD Analysis.
USDCAD broke above the upper line of the price channel on 4-hour chart, suggesting that the downward movement from 1.0341 (Mar 1 high) had completed at 1.0013 already. Further rise to test 1.0341 resistance would likely be seen, a break above this level will indicate that the uptrend from 0.9632 (Sep 14, 2012 low) has resumed, then then next target would be at 1.0500 area. However, as long as 1.0341 resistance holds, the rise from 1.0013 would possibly be correction of the downtrend from 1.0341, one more fall towards 0.9500 is still possible after correction.
USDJPY Analysis.
USDJPY remains in uptrend from 97.01. Further rise is still possible, and next target would be at 105.00 area. Support is at the lower line of the price channel on 4-hour chart, only a clear break below the channel support will suggest that 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, and the fall extends to as low as 1.5158. Further decline is still possible, and next target would be at 1.5100 area. Resistance is at 1.5330, only break above this level could signal completion of the downtrend.
EURUSD Analysis.
EURUSD’s downward movement from 1.3242 extends to as low as 1.2796. Further decline to test 1.2747 previous low support is possible. Resistance is now at 1.2930, only break above this level could signal completion of the downtrend.
USDCHF Analysis.
After consolidation, USDCHF continues its upward movement from 0.9247, and the rise extends to as high as 0.9760. Further rise could be expected, and next target would be at 0.9850 area. Key support is at 0.9575, only break below this level could signal completion of the uptrend.
AUDUSD Analysis.
AUDUSD’s downward movement extends to as low as 0.9711. Further decline is still possible after a minor consolidation, and next target would be at 0.9650 area. Resistance is at 0.9900, as long as this level holds, the downtrend will continue.
