AUDUSD Analysis.
AUDUSD breaks below 0.9528 support, and continues its downward movement from 1.0582 (Apr 11 high), and the fall has extended to as low as 0.9448. Further decline could be expected, and next target would be at 0.9400 area. Key resistance is now located at 0.9791, only break above this level could signal completion of the downtrend from 1.0582.
USDCAD Analysis.
No changed in our view, USDCAD remains in uptrend from 1.0013, the price action from 1.0420 is likely consolidation of the uptrend. Further rise to test 1.0420 resistance would likely be seen, a break above this level could signal resumption of the uptrend, then next target would be at 1.0500 area. Key support is at 1.0261, only break below this level will indicate that the uptrend from 1.0013 is complete.
EURUSD Analysis.
EURUSD remains in uptrend from 1.2796, and the rise extends to as high as 1.3113. Key support is at 1.2940, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.3200 area, only break below 1.2940 support could signal completion of the uptrend.
GBPUSD Analysis.
GBPUSD’s upward movement from 1.5008 extends to as high as 1.5413. Support is at 1.5270, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.5500 area, only bread below 1.5270 support could signal completion of the uptrend.
USDJPY Analysis.
USDJPY remains in downtrend from 103.73. As long as this resistance of the upper line of the price channel holds, the downtrend could be expected to continue, and next target would be at 98.00 area, only a clear break above the channel resistance could signal completion of the downtrend.
USDCHF Analysis.
USDCHF’s downward movement from 0.9838 extends to as low as 0.9395. Resistance is now located at 0.9520, as long as this level holds, the downtrend could be expected to continue, and next target would be at 0.9300 area, only break above 0.9520 resistance could signal completion of the downtrend.
