AUDUSD Analysis.
AUDUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 0.9280. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 0.9650 area. On the downside, a clear break below the trend line support will indicate that lengthier consolidation of the longer term uptrend from 0.8847 (Aug 5 low) is underway, then deeper decline to 0.9300 area to complete the consolidation could be seen.
GBPUSD Analysis.
GBPUSD breaks above the downward trend line on 4-hour chart, however, the rise from 1.5914 is likely consolidation of the downtrend from 1.6259. Another fall towards 1.5800 is still possible after consolidation. Resistance is now at 1.6040, only break above this level could signal completion of the downtrend.
EURUSD Analysis.
EURUSD is facing 1.3462 support, a breakdown below this level will confirm that consolidation of the uptrend from 1.2756 (Jul 9 low) is underway, then further decline to 1.3300 – 1.3400 area to complete the consolidation could be seen. Resistance is now at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.
USDCHF Analysis.
USDCHF stays above a upward trend line on 4-hour chart, and remains in uptrend from 0.8967. As long as the trend line support holds, the uptrend could be expected to continue, and the target would be at 0.9250 area. On the downside, a clear break below the trend line support will signal completion of the uptrend, then the following downward movement could bring price back to 0.8500 zone.
USDCAD Analysis.
USDCAD remains in uptrend from 1.0182, the fall from 1.0419 could be treated as consolidation of the uptrend. Key support is at 1.0300, as long as this level holds, the uptrend could be expected to resume, and one more rise to 1.0500 area is still possible. On the downside, a breakdown below 1.0300 support will indicate that the uptrend from 1.0182 had completed at 1.0419 already, then the following downward movement could bring price to 1.0000 zone.
USDJPY Analysis.
USDJPY remains in uptrend from 96.57. As long as 97.90 support holds, the uptrend could be expected to continue, and next target would at 99.00 area. On the downside, a breakdown below 97.90 support will indicate that correction of the uptrend is underway, then pullback to 97.30 area could be seen.
