EURUSD Analysis.
EURUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.2796, the fall from 1.3305 is treated as consolidation of the uptrend. As long as the trend line support holds, the uptrend could be expected to resume, and one more rise towards 1.3500 is still possible after consolidation. On the downside, a clear break below the trend line support will suggest that lengthier consolidation of the uptrend is underway, then deeper decline to 1.3100 area could be seen.
AUDUSD Analysis.
AUDUSD’s downward movement from 1.0582 (Apr 11 high) extends to as low as 0.9393. Further decline is still possible, and next target would be at 0.9300 area. Resistance levels are at 0.9675 and 0.9791, only break above these levels could signal completion of the downtrend.
USDCAD Analysis.
USDCAD continues its downward movement from 1.0420, and the fall extends to as low as 1.0168. Further decline would likely be seen, and next target would be at 1.0100 area. Resistance is now at 1.0290, only break above this level could signal completion of the downtrend.
GBPUSD Analysis.
GBPUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.5008. As long as the trend line support holds, the fall from 1.5683 is treated as consolidation of the uptrend, and another rise to 1.5800 area is still possible.
USDJPY Analysis.
USDJPY remains in downtrend from 103.73, the rise from 94.99 is treated as consolidation of the downtrend. Resistance is located at the downward trend line on 4-hour chart, as long as the trend line support holds, the downtrend could be expected to resume, and one more fall towards 90.00 is still possible. On the upside, a clear break above the trend line resistance will indicate that lengthier correction of the downtrend is underway, then further rise to 100.00 – 101.00 area could be seen.
USDCHF Analysis.
USDCHF stays below a downward trend line on 4-hour chart, and remains in downtrend from 0.9838, the rise from 0.9226 is treated as consolidation of the downtrend. As long as the trend line resistance holds, the downtrend could be expected to resume, and one more fall towards 0.9000 could be seen.
