AUDUSD Analysis.
AUDUSD moves sideways in a narrow range between 0.9037 and 0.9180. The price action in the range is likely consolidation of the downtrend from 0.9344. Another fall to test 0.9037 support could be expected, a break down below this level will signal resumption of the downtrend, then next target would be at 0.8950 area. On the upside, a break above 0.9180 resistance will suggest that lengthier consolidation of the longer term downtrend from 1.0582 (Apr 11 high) is underway, then further rally to 0.9270 area could be seen.
USDCHF Analysis.
USDCHF stays above a upward trend line on 4-hour chart, and remains in uptrend from 0.9130, and the rise extends to as high as 0.9667. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 0.9700 area.
USDJPY Analysis.
USDJPY stays above a upward trend line on 4-hour chart, and remains in uptrend from 93.79. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 102.50 area. On the downside, a clear break below the trend line support will indicate that consolidation of the uptrend is underway, then the pair will find support around 99.50.
EURUSD Analysis.
EURUSD remains in downtrend from 1.3102, the rise from 1.2806 is likely consolidation of the downtrend. Key resistance is now 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 another fall to 1.2700 is still possible after consolidation.
USDCAD Analysis.
USDCAD remains in uptrend from 1.0137, the fall from 1.0608 could be treated as consolidation of the uptrend. Key support is located at the upward trend line on 4-hour chart. As long as the trend line support holds, the uptrend could be expected to resume, and one more rise to 1.0700 area is is still possible, only a clear break below the trend line support could signal completion of the uptrend.
GBPUSD Analysis.
GBPUSD remains in downtrend from 1.5751, the rise from 1.4859 is treated as consolidation of the downtrend. Resistance is at 1.5000, as long as this level holds, the downtrend could be expected to resume, and next target would be at 1.4750 area.
