USDCHF Analysis.
USDCHF continues its downward movement from 0.9838, and the fall extends to as low as 0.9130. Resistance is located at the upper line of the downward price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and another fall towards 0.9000 is still possible. On the upside, a clear break above the channel resistance will suggest that consolidation of the downtrend is underway, then further rise 0.9400 – 0.9500 area could be seen.
AUDUSD Analysis.
After touching the the upper line of the price channel on 4-hour chart, AUDUSD pullback from 0.9664, suggesting that the pair remains in downtrend from 1.0582 (Apr 11 high), and the rise from 0.9326 could be treated as consolidation of the downtrend, another fall towards 0.9000 is still possible after consolidation.
GBPUSD Analysis.
GBPUSD stays above a upward trend line on 4-hour chart and remains in uptrend from 1.5008. Further rise could be expected, and next target would be at 1.5800 area. Support is at the trend line, only a clear break below the trend line support could signal completion of the uptrend.
EURUSD Analysis.
EURUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.2796. Support is at the trend line, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.3500 area. On the downside, a clear break below the trend line will indicate that consolidation of the uptrend is underway, then pullback to 1.3100 – 1.3200 area could be seen.
USDCAD Analysis.
USDCAD stays within a downward price channel on 4-hour chart and remains in downtrend from 1.0420. Further decline would likely be seen in a couple of days, and next target would be at 1.0100 area. Resistance is located at the upper line of the channel, only a clear break above the channel resistance could signal completion of the downtrend.
USDJPY Analysis.
USDJPY’s downward movement from 103.73 extends to as low as 93,79. Further decline is still possible, and next target would be at 92.50 area. Key resistance is at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.
