EURUSD Analysis.
EURUSD’s downward movement from 1.3451 extends to as low as 1.3105. Resistance is 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 further decline to 1.3000 area is still possible. On the other side, a clear break above the channel resistance will indicate that the downtrend from 1.3451 is complete, then another rise towards 1.3500 could be seen.
AUDUSD Analysis.
AUDUSD is facing 0.9317 resistance again, a break above this level will indicate that the downtrend from 1.0582 (Apr 11 high) has completed at 0.8847 already, then the following upward movement could bring price to 1.0000 area. On the downside, as long as 0.9317 resistance holds, the sideways movement in a range between 0.8847 and 0.9317 could be expected to continue, and one more fall to re-test 0.8847 support is possible.
GBPUSD Analysis.
GBPUSD’s upward movement from 1.5429 extends to as high as 1.5680. Further rise to test 1.5717 resistance is possible, a break above this level will indicate that the longer term uptrend from 1.4813 (Jul 9 low) has resumed, then next target would be at 1.6000 zone. Support is at 1.5560, a break below this level will indicate that sideways movement in a range between 1.5429 and 1.5717 is underway, then pullback to 1.5465 area could be seen.
USDCHF Analysis.
USDCHF breaks below the upward trend line on 4-hour chart, suggesting that consolidation of the uptrend from 0.9147 is underway. Range trading between 0.9300 and 0.9455 would likely be seen in a couple of days. Key support is at 0.9300, only break below this level could trigger another fall towards 0.8500.
USDJPY Analysis.
USDJPY stays in a upward price channel on 4-hour chart, and remains in uptrend from 95.81, the fall from 100.22 is likely consolidation of the uptrend. Support is now located at the lower line of the channel, as long as the channel support holds, the uptrend could be expected to resume, and one more rise to 101.00 area is still possible.
USDCAD Analysis.
USDCAD breaks below 1.0450 support, suggesting that the uptrend from 1.0245 had completed at 1.0568 already. Further decline could be expected over the next several days, and the target would be at 1.0200 area. Resistance is at 1.0450, only break above this level could trigger another rise towards 1.0700.
