USDCHF Analysis.
USDCHF’s downward movement from 0.9455 extends to as low as 0.8967. Initial resistance is at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 0.8900 area. Key resistance is now at 0.9077, only break above this level could indicate that consolidation of the downtrend is underway, then the following upward movement could bring price back to 0.9200 – 0.9250 area.
AUDUSD Analysis.
AUDUSD continues its sideways movement in a range between 0.9280 and 0.9526. Key support is at 0.9280, as long as this level holds, the price action in the range could be treated as consolidation of the uptrend from 0.8892, one more rise towards 1.0000 is still possible after consolidation. On the other side, a breakdown below 0.9280 support will indicate that the uptrend from 0.8892 had completed at 0.9526 already, then the following downward movement could bring price to 0.8500 zone.
EURUSD Analysis.
EURUSD’s upward movement from 1.3105 extends to as high as 1.3646. Further rise could be expected, and next target would be at 1.3750 area. Key support is at 1.3462, only break below this level could signal completion of the uptrend.
GBPUSD Analysis.
GBPUSD remains in uptrend from 1.5429, the fall from 1.6259 is likely consolidation of the uptrend. Key support is 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 towards 1.6500 is still possible.
USDCAD Analysis.
USDCAD remains in uptrend from 1.0182, the fall from 1.0356 is likely consolidation of the uptrend. Key support is at 1.0265, as long as this level holds, the uptrend could be expected to resume, and one more rise towards 1.0450 area is possible. On the downside, a breakdown below 1.0265 will suggest that the upward movement from 1.0182 had completed at 1.0356 already, then the following downward movement could bring price to 1.0000 zone.
USDJPY Analysis.
USDJPY continues its downward movement from 100.60, and the fall extends to as low as 96.93. Further decline could be expected, and the target would be at 96.50 area. Resistance is at 98.50, only break above this level could signal completion of the downtrend.
