USDCHF is in downtrend from 1.1848, and the price action from 1.1484 is treated as consolidation of the downtrend. Deeper decline is still possible in next several days, and next target would be at 1.1300 zone. Key resistance is located at 1.1681, only rise above this level will indicate that the pair is back to range trading between 1.1430 and 1.1883.
USDJPY stays in the trading range between 96.56 and 99.67. Deeper decline would more likely be seen to test the key support at 96.56, a break down below this level will indicate that the rise from 87.12 (Jan 21 low) has completed at 99.67, and then the following downtrend will take price to 93.00 zone. As long as 96.56 support holds, the price action in the trading range is treated as consolidation of the medium uptrend from 87.12 and further rise towards 102.00 is possible after consolidation.
EURUSD remains in short term uptrend from 1.2456. Further rise to test 1.2991 medium term key resistance is expected in a couple of days. A break above this level will indicate that the fall from 1.4719 (Dec 18, 2008 high) has completed at 1.2456 level. Initial support is at the up trend line on 4-hour chart, and key support is located at 1.2610, only fall below this level will signal resumption of the medium downtrend from 1.4719.
USDCAD stays in a trading range between 1.2709 and 1.3063. Moving sideways in this range is expected in a couple of days. Further rally is still possible after consolidation and a break above 1.3063 will signal further rise towards 1.3300 zone.
GBPUSD remains in short term downtrend from 1.4305. Deeper decline is still possible in a couple of days. Initial resistance is at 1.3970 and followed by 1.4000, as long as 1.4000 resistance holds, we’d expected downtrend to continue.
AUDUSD stays in the range trading between 0.6284 and 0.6553. As long as 0.6553 resistance holds, we’d expect downtrend to resume and deeper decline would more likely be seen to 0.6100-50 area after consolidation. However, above 0.6553 resistance will indicate that the fall from 0.6849 has completed at 0.6284 level.