GBPUSD Analysis.
Being contained by 1.6259 resistance, GBPUSD pulls back from 1.6240. 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 from 1.5854 could be expected to resume, and another rise to re-test 1.6259 resistance is still possible. On the downside, a clear break below the channel support will indicate that lengthier sideways movement in a trading range between 1.5854 and 1.6259 is underway, then the following downward move could bring price back to test 1.5854 support.
USDJPY Analysis.
USDJPY remains in uptrend from 96.94, the fall from 101.91 is likely consolidation of the uptrend. 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 another rise towards 103.00 is still possible. On the downside, a clear break below the channel support will indicate that lengthier consolidation of the uptrend is underway, then deeper decline to 100.50 area could be seen.
USDCAD Analysis.
USDCAD remains in uptrend from 1.0414, the fall from 1.0583 could be treated as consolidation of the uptrend. Support is at 1.0500, as long as this level holds, the uptrend could be expected to resume, and another rise towards 1.0600 could be expected.
AUDUSD Analysis.
AUDUSD remains in downtrend from 0.9446, the rise from 0.9120 could be treated as consolidation of the downtrend. Resistance is at 0.9225, as long as this level holds, the downtrend could be expected to resume, and next target would be at 0.9000 area. On the other side, a break above 0.9225 resistance will indicate that lengthier consolidation of the longer term downtrend from 0.9756 is underway, then further rally to 0.9300 – 0.9350 area could be seen.
EURUSD Analysis.
EURUSD is facing 1.3578 resistance, a break above this level will signal resumption of the uptrend from 1.3296, then next target would be at 1.3700 area. On the downside, as long as 1.3578 resistance holds, the rise from 1.3399 would possibly be correction of the downtrend from 1.3578, one more fall towards 1.3200 is still possible.
USDCHF Analysis.
USDCHF remains in downtrend from 0.9249, the price action from 0.9079 could be treated as consolidation of the downtrend. Key resistance is at 0.9190, as long as this level holds, the downtrend could be expected to resume, and next target would be at 0.8950 area. On the upside, a break above 0.9190 will signal completion of the downtrend from 0.9249, then the following upward movement could bring price to 0.9450 zone.
