USDCHF Analysis.
USDCHF continues its downward movement from 0.9535, and the fall extends to as low as 0.9228. Key resistance is now at 0.9337, as long as this level holds, the downtrend could be expected continue, and next target would be at 0.9170 area. On the upside, a break above 0.9337 resistance will indicate that lengthier consolidation of the longer term downtrend from 0.9751 is underway, then the pair will find resistance around 0.9400.
USDCAD Analysis.
USDCAD moves sideways in a range between 1.0245 and 1.0335. As long as 1.0360 resistance holds, the sideways movement could be treated as consolidation of the downtrend from 1.0608, one more fall towards 1.0150 is still possible after consolidation.
AUDUSD Analysis.
AUDUSD breaks below 0.8998 support, and reaches as low as 0.8925, suggesting that the downtrend from 1.0582 (Apr 11 high) has resumed. Further decline would likely be seen, and next target would be at 0.8850 area. Key resistance remains at 0.9305, only break above this level could signal completion of the downtrend.
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 stays within a upward price channel on 4-hour chart, and remains in uptrend from 1.2993, and the rise extends to as high as 1.3344. Further rise could be expected, and next target would be at 1.3400 area. Key support is at 1.3214, only break below this level will indicate that consolidation of the longer term uptrend from 1.2756 is underway, then deeper decline to 1.3150 area could be seen.
GBPUSD Analysis.
GBPUSD’s downward movement from 1.5433 extends to as low as 1.5126. Deeper decline is still possible, and next target would be at 1.5050 area. Resistance is at 1.5255, only break above this level could signal completion of the downtrend.
