AUDUSD Analysis.
AUDUSD continues its upward movement from 0.8847, and the rise extends to as high as 0.9213. Further rise to test 0.9317 key resistance is possible, as long as this level holds, the rise could be treated as consolidation of the downtrend from 1.0582 (Apr 11 high), and sideways movement in a range between 0.8847 and 0.9317 would likely be seen over the next several days. However, a break above 0.9317 resistance will indicate that the downtrend from 1.0582 had completed at 0.8847 already, then the following upward movement could bring price to 1.0000 zone.
USDCAD Analysis.
USDCAD’s fall from 1.0445 extends to as low as 1.0275. Further decline to test 1.0245 support could be expected, a breakdown below this level will indicate that the downtrend from 1.0608 has resumed. Then further decline to 1.0150 area could be seen. 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.
USDCHF Analysis.
USDCHF remains in downtrend from 0.9751, the rise from 0.9174 could be treated as consolidation of the downtrend. Key resistance is at 0.9320, as long as this level holds, the downtrend could be expected to resume, and another fall towards 0.9000 is still possible.
USDJPY Analysis.
USDJPY remains in downtrend from 101.53, the rise from 95.81 is treated as consolidation of the downtrend. Initial resistance is at 97.30, and the key resistance is located at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.
EURUSD Analysis.
Being contained by 1.3415 (Jun 19 high) resistance, EURUSD pulled back from 1.3400 last Friday, suggesting that consolidation of the uptrend from 1.2756 is underway. Deeper decline is possible, and the target would be 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 towards 1.4000 is still possible.
GBPUSD Analysis.
GBPUSD remains in uptrend from 1.5102, the fall from 1.5574 is treated as consolidation of the uptrend. Further rise could be expected after 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.
