USDCHF Analysis.
USDCHF remains in downtrend from 0.9751, the rise from 0.9264 is likely consolidation of the downtrend. 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 one more fall to 0.9200 area is still possible after consolidation. On the upside, a clear break above the channel resistance will indicate that lengthier consolidation of the downtrend is underway, then the pair will find resistance around 0.9450.
USDCAD Analysis.
USDCAD remains in downtrend from 1.0442. Resistance is 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 continue, and next target would be at 1.0200 area. On the upside, a clear break above the channel resistance will suggest that consolidation of the longer term downtrend from 1.0608 is underway, then the pair will find resistance around 1.0360.
AUDUSD Analysis.
AUDUSD failed to break above 0.9305 resistance and stays in a trading range between 0.8998 and 0.9805. As long as 0.9305 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.0582 (Apr 11 high), and one more fall towards 0.8500 is still possible after consolidation. On the upside, a break above 0.9305 resistance will indicate that the downtrend from 1.0582 had completed at 0.8998 already, then the following upward movement could bring price to 1.0000 area.
USDJPY Analysis.
USDJPY remains in downtrend from 101.53. Further decline would likely be seen, and next target would be at 96.50 area. Resistance is at 99.00, only break above this level could trigger another rise to test 101.53 resistance.
EURUSD Analysis.
EURUSD remains in uptrend from 1.2756, the fall from 1.3297 is likely consolidation of the uptrend. Support is now 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 1.3350 area is still possible. On the downside, a clear break below the channel support will indicate that lengthier consolidation of the uptrend is underway, then deeper decline to 1.3100 area could be seen.
GBPUSD Analysis.
GBPUSD breaks below the upwards trend line on 4-hour chart, suggesting that consolidation of the uptrend from 1.4813 is underway. Deeper decline is still possible, and the target would be at 1.5200 area. Resistance is now at 1.5433, only break above this level could trigger another rise towards 1.5600.
