USDCHF Analysis.
USDCHF stays within a upward price channel on 4-hour chart, and remains in uptrend from 0.9130, and the rise extends to as high as 0.9583. Initial support is at the lower line of the price channel on 4-hour chart, and the key support is now at 0.9446, as long as this support holds, the uptrend could be expected to continue, and next target would be at 0.9650 area. On the downside, a breakdown below 0.9446 support will indicate that the uptrend from 0.9130 had completed, then the following downward movement could bring price back to 0.9000 zone.
USDJPY Analysis.
USDJPY remains in uptrend from 93.79, the price action from 100.85 could be treated as consolidation of the uptrend. Support is located at the lower line of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to resume, and one more rise to 102.00 area is still possible. On the downside, a clear break below the channel support will indicate that the uptrend from 93.79 had completed, then the following downward movement could bring price to 95.00 – 96.00 area.
AUDUSD Analysis.
AUDUSD remains in downtrend from 1.0582 (Apr 11 high), the rise from 0.9037 could be treated as consolidation of the downtrend. Key resistance is 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 another fall to 0.9000 is still possible, only a clear break above the channel resistance could signal completion of the downtrend.
EURUSD Analysis.
EURUSD continues its downward movement from 1.3415, and the fall extends to as low as 1.2883. Further decline could be expected after a minor consolidation, and next target would be at 1.2850 area. Key resistance is located at the upper line of the price channel on 4-hour chart, only a clear break above the channel resistance could signal completion of the downtrend.
USDCAD Analysis.
No changed in our view, USDCAD remains in uptrend from 1.0137, the price action from 1.0556 is treated as consolidation of the uptrend. One more fall to the lower line of the price channel to complete to consolidation is possible. As long as the channel support holds, the uptrend could be expected to resume, and another rise to 1.0600 area could be seen after consolidation.
GBPUSD Analysis.
GBPUSD breaks below 1.5130 support and continues its downward movement from 1.5751, and the fall extends to as low as 1.5027. Further decline is still possible, and next target would be at 1.4950 area. Key resistance is now at 1.5304, only break above this level could signal completion of the downtrend.
