USDCAD Analysis.
USDCAD breaks below 1.0345 support, suggesting that the uptrend from 1.0245 has completed at 1.0445. Further decline to test 1.0245 support could be seen, a breakdown below this level will signal resumption of the downtrend from 1.0608, then the following downward movement could bring price to 1.0150 area. On the upside, as long as 1.0245 support holds, the fall from 1.0445 would possibly be correction of the uptrend from 1.0245, one more rise to 1.0500 area to complete to upward movement is still possible.
AUDUSD Analysis.
AUDUSD’s upward movement from 0.8847 extends to as high as 0.9134, suggesting that consolidation of the downtrend from 1.0582 (Apr 11 high) is underway. Further rise to test 0.9317 resistance would likely be seen, a break above this level could signal completion of the downtrend. However, as long as 0.9317 resistance holds, the downtrend could be expected to resume, and one more fall towards 0.8500 is still possible.
USDCHF Analysis.
USDCHF’s downward movement from 0.9389 extends to as low as 0.9175. Further decline could be expected after a minor consolidation and next target would be at 0.9140 area. Resistance is at 0.9245, as long as this level holds, the downtrend will continue.
USDJPY Analysis.
USDJPY stays below a downward trend line on 4-hour chart, and remains in downtrend from 101.53. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 95.00 area, only a clear break above the trend line resistance could signal completion of the downtrend.
EURUSD Analysis.
EURUSD breaks above 1.3344 resistance and reaches as high as 1.3400, suggesting that the uptrend from 1.2756 has resumed. Support is now located at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.3500 area.
GBPUSD Analysis.
GBPUSD remains in uptrend from 1.5102, and the rise extends to as high as 1.5574. Further rise could be expected after a minor consolidation, and next target would be at 1.5650 area. Support is at 1.5390, only break below this level could bring price back to 1.5200 zone.
