AUDUSD Analysis.
AUDUSD stays within a downward price channel on 4-hour chart, and remains in downtrend from 1.0582 (Apr 11 high), the price action from 0.9148 could be treated as consolidation of the downtrend. Further decline would likely be seen after consolidation, and next target would be at 0.9000 area. Key resistance is located at the upper line of the price channel, only a clear break above the channel resistance could signal completion of the downtrend.
EURUSD Analysis.
After consolidation, EURUSD breaks below 1.2985 previous low support, and continues its downward movement from 1.3415, and the fall extends to as low as 1.2964. Further decline is still possible, and next target would be at 1.2900 area. Key resistance is at 1.3102, only break above this level will indicate that the downtrend from 1.3415 has completed, then the following upward movement could bring price to 1.3600 zone.
USDCAD Analysis.
After consolidation, USDCAD breaks above 1.0556 resistance, and reaches as high as 1.0577, suggesting that the uptrend from 1.0137 has resumed. Further rise could be expected and next target would b at 1.0600 area. Key support is at 1.0424, only break below this level could signal completion of the uptrend.
USDJPY Analysis.
USDJPY continues its upward movement from 93.79, and the rise extends to as high as 100.85. Further rise would likely be seen in a couple of days, and next target would be at 102.00 area. Support is now at 99.50, only break below this level could signal completion of the uptrend.
USDCHF Analysis.
USDCHF continues its upward movement from 0.9130, and the rise extends to as high as 0.9529. Further rise is still possible and next target would be at 0.9600 area. Support is now at 0.9440, only break below this level could signal completion of the uptrend.
GBPUSD Analysis.
GBPUSD’s downward movement from 1.5751 extends to as low as 1.5137. Further decline could be expected, and next target would be at 1.5050 area. Resistance is at 1.5250, only break above this level could signal completion of the downtrend.
