EURUSD Analysis.
EURUSD stays in a trading range between 1.2985 and 1.3102. Key resistance is at 1.3102, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 1.3415, one more fall to 1.2900 area is still possible after consolidation. On the upside, a break above 1.3102 resistance could signal completion of the downtrend from 1.3415, then the following upward movement could bring price back towards 1.3600.
USDCAD Analysis.
USDCAD continues its sideways movement in a range between 1.0424 and 1.0556. Key support is at 1.0424, as long as this level holds, the price action in the range could be treated as consolidation of the uptrend from 1.0137, one more rise to 1.0700 area is still possible after consolidation. On the downside, a breakdown below 1.0424 support will indicate that the uptrend from 1.0137 had completed at 1.0556 already, then the following downward movement could bring price back to 1.0200 zone.
USDJPY Analysis.
USDJPY’s upward movement from 93.79 extends to as high as 99.85. Further rise could be expected, and next target would be at 100.50 area. Support is at 97.70, only break below this level could signal completion of the uptrend.
USDCHF Analysis.
USDCHF’s upward movement from 0.9130 extends to as high as 0.9503. Further rise is still possible, and next target would be at 0.9550 area. Support is at 0.9400, only break below this level could signal completion of the uptrend.
AUDUSD Analysis.
AUDUSD remains in downtrend from 1.0582 (Apr 11 high), the price action from 0.9148 could be treated as consolidation of the downtrend. Key resistance is located at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and one more fall to 0.9000 area is still possible, only a clear break above the channel resistance could signal completion of the downtrend.
GBPUSD Analysis.
GBPUSD remains in downtrend from 1.5751, and the fall extends to 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.
