EURUSD Analysis.
EURUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.3832, the rise from 1.3296 could be treated as consolidation of the downtrend. Key resistance is now at 1.3450, as long as this level holds, the downtrend could be expected to resume, and next target would be at 1.3200 area. On the upside, a clear break above the trend line resistance will indicate that the downtrend from 1.3832 had completed at 1.3296 already, then the following upward movement could bring price to 1.4000 zone.
USDJPY Analysis.
USDJPY remains in uptrend from 96.57, the price action from 99.00 could be treated as 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 100.00 is still possible. On the downside, a clear break below the channel support will indicate that the uptrend from 96.57 had completed at 99.41 already, then the following downward movement could bring price to 95.00 area.
GBPUSD Analysis.
GBPUSD continues its sideways movement in a trading range between 1.5894 and 1.6259. Key support is at 1.5894, as long as this level holds, the price action in the range could be treated as consolidation of the uptrend from 1.4813 (Jul 9 low), one more rise towards 1.6500 is still possible after consolidation. However, breakdown below 1.5894 support will indicate that the uptrend from 1.4813 had completed at 1.6259 already, then the following downward movement could bring price to 1.4500 zone.
AUDUSD Analysis.
AUDUSD breaks below 0.9421 support, suggesting that the downtrend from 0.9756 has resumed. Further decline could be expected, and next target would be at 0.9250 area. Key resistance is at 0.9542, as long as this level holds, the downtrend will continue.
USDCHF Analysis.
USDCHF stays above a upward trend line on 4-hour chart, and remains in uptrend from 0.8890, the fall from 0.9249 could be treated as consolidation of the uptrend. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 0.9300 area. On the downside, a clear break below the trend line support will indicate that the uptrend from 0.8890 had completed at 0.9249 already, then the following downward movement could bring price back to 0.8500 zone.
USDCAD Analysis.
USDCAD breaks above 1.0496 resistance, suggesting that the uptrend from 1.0271 has resumed. Further rise could be expected and next target would be at 1.0550 area. Support is now at 1.0445, only break below this level will suggest that lengthier consolidation of the longer term uptrend from 1.0182 (Sep 19 low) is underway, then the pair will find support at the lower line of the price channel on 4-hour chart.
