EURUSD Analysis.
EURUSD remains in downtrend from 1.3415, the bounce from 1.2985 could be treated as consolidation of the downtrend. Another fall could be expected after consolidation, and a breakdown below 1.2985 could signal resumption of the downtrend. Key resistance is now at 1.3100, only break above this level will suggest that the downtrend from 1.3415 had completed at 1.2985 already, then the following upward movement could bring price to 1.3600 zone.
USDCAD Analysis.
USDCAD stays in a trading range between 1.0424 and 1.0556. The price action in the range is likely consolidation of the uptrend from 1.0137, another rise to 1.0700 area is still possible after consolidation, and a break above 1.0556 resistance could signal resumption of the uptrend. Key support is at 1.0424, only break below this level could suggest that the upward movement had completed, then the following downward move could bring price to 1.0200 zone.
USDJPY Analysis.
USDJPY continues its upward movement from 93.79, and the rise extends to as high as 99.53. Further rise is still possible, and next target would be at 100.00 area. Support is now at 97.70, only break below this level could signal completion of the uptrend.
USDCHF Analysis.
USDCHF remains in uptrend from 0.9130, the fall from 0.9487 is likely consolidation of the uptrend. Support is at 0.9400, as long as this level holds, the uptrend could be expected to resume, and next target would be at 0.9550 area, only break below 0.9400 support could signal completion of the uptrend.
AUDUSD Analysis.
AUDUSD stays within a downward price channel on 4-hour chart, and remains in downtrend from 1.0582 (Apr 11 high), and the fall extends to as low as 0.9112. As long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 0.9000 area, only a clear break above the channel resistance could signal completion of the downtrend.
GBPUSD Analysis.
GBPUSD’s downward movement from 1.5751 extends to as low as 1.5165. Further decline is still possible after a minor consolidation, and next target would be at 1.5100 area. Resistance is at 1.5280, as long as this level holds, the downtrend will continue.
