USDCAD Analysis.
USDCAD remains in downtrend from 1.0608, the rise from 1.0326 is treated as consolidation of the downtrend. Resistance is at 1.0440, as long as this level holds, the downtrend could be expected to resume, and next target would be at 1.0300 area. On the upside, a break above 1.0440 resistance will suggest that the lengthier correction of the downtrend is underway, then the target would be at 1.0480 – 1.0500 area.
AUDUSD Analysis.
AUDUSD broke below 0.9037 support last Friday, suggesting that the downtrend from 1.0582 (Apr 11 high) had resumed. Further decline could be expected, and next target would be at 0.8900 area. Initial resistance is at 0.9150, and the key resistance is at 0.9305, only break above these levels could signal completion of the downtrend.
USDCHF Analysis.
USDCHF remains in downtrend from 0.9751, the rise from 0.9405 is treated as consolidation of the downtrend. Resistance is at 0.9535, as long as this level holds, the downtrend could be expected to resume, and next target would be at 0.9300 area. On the upside, a break above 0.9535 resistance will indicate that lengthier correction of the downtrend is underway, then further rally to 0.9600 area could be seen.
USDJPY Analysis.
USDJPY remains in downtrend from 101.53, the rise from 98.27 is treated as 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. On the upside, a break above 100.00 resistance will indicate that the fall from 101.53 had completed at 98.27 already, then further rise to test 101.53 resistance could be seen.
EURUSD Analysis.
EURUSD remains in uptrend from 1.2756, the fall from 1.3206 is treated as correction of the uptrend. Support is at 1.2950, as long as this level holds, the uptrend could be expected to resume, and another rise towards 1.3500 is still possible.
GBPUSD Analysis.
GBPUSD remains in uptrend from 1.4813, the fall from 1.5222 is likely consolidation of the uptrend. Support is at 1.5060, as long as this level holds, the uptrend could be expected to resume, and next target would be at 1.5400, only break below 1.5060 support could signal completion of the uptrend.
