EURUSD Analysis.
EURUSD remains in uptrend from 1.3105, the price action from 1.3568 could be treated as consolidation of the uptrend. Support is now 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 another rise towards 1.3700 is still possible. On the downside, a clear break below the channel support will suggest that consolidation of the longer term uptrend from 1.2756 (Jul 9 low) is underway, then deeper decline to 1.3300 area could be seen.
USDCHF Analysis.
USDCHF breaks above the downward trend line on 4-hour chart, suggesting that consolidation of the downtrend from 0.9455 is underway. Further rise would likely be seen, and the target would be at 0.9200 – 0.9250 area. Support is now at 0.8967, only break below this level could trigger another fall towards 0.8500.
AUDUSD Analysis.
AUDUSD’s upward movement from 0.9280 extends to as high as 0.9458. Further rise to test 0.9526 resistance is possible, as long as this level holds, the sideways movement in a range between 0.9280 and 0.9526 could be expected to continue. However, a break above 0.9526 resistance will indicate that the uptrend from 0.8892 has resumed, then the following upward movement could bring price to 1.0000 zone.
GBPUSD Analysis.
GBPUSD breaks below the lower line of the price channel on 4-hour chart, suggesting that consolidation of the uptrend from 1.4813 (Jul 9 low) is underway. Deeper decline would likely be seen, and the target would be at 1.5900 area. Resistance is at 1.6259, only break above this level could trigger another rise towards 1.6500.
USDCAD Analysis.
USDCAD remains in uptrend from 1.0182, as long as 1.0265 support holds, the fall from 1.0356 could be treated as consolidation of the uptrend. Another rise would likely be seen after consolidation, and the target would be at 1.0450 area. However, a breakdown below 1.0265 support 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 remains in downtrend from 100.60, as long as 98.00 resistance holds, the downtrend could be expected to continue, and the target would be at 96.50 area. On the upside, a break above 98.00 resistance will indicate that the downtrend has completed, then the following upward movement could bring price to 99.50 – 100.00 area.
