AUDUSD Analysis.
AUDUSD failed to break above 0.9344 key resistance and stays in a trading range between 0.9037 and 0.9344. As long as 0.9344 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.0582 (Apr 11 high), another fall towards 0.8500 could be expected after consolidation. On the upside, a break above 0.9344 resistance will indicate that the downtrend had completed at 0.9037 already, then the following upward movement could bring price to 0.9800 zone.
USDCAD Analysis.
USDCAD is now in downtrend from 1.0608, the rise from 1.0326 is likely consolidation of the downtrend. Resistance is at 1.0470, as long as this level holds, the downtrend could be expected to resume, and next target would be at 1.0300 area.
USDCHF Analysis.
USDCHF is now in downtrend from 0.9751, the rise from 0.9405 could be treated as consolidation of the downtrend. Resistance is at 0.9600, as long as this level holds, the downtrend could be expected to resume, and next target would be at 0.9300 area.
USDJPY Analysis.
USDJPY is now is in downtrend from 101.53, the rise from 98.27 is likely consolidation of the downtrend. Resistance is at 100.00, as long as this level holds, the downtrend could be expected to resume, and next target would be at 97.00 area.
EURUSD Analysis.
EURUSD is now in uptrend from 1.2756, the fall from 1.3206 is treated as consolidation of the uptrend. Another rise could be expected after consolidation, and next target would be at 1.3300 area. Support is at 1.2960, only break below this level could signal completion of the uptrend.
GBPUSD Analysis.
GBPUSD’s upward movement from 1.4813 extends to as high as 1.5222. Key support is now at 1.5060, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.5400 area, only a breakdown below 1.5060 support could signal completion of the uptrend.
