USDCHF Analysis.
USDCHF’s uptrend extended to as high as 1.0794 level and reached the upper border of the rising price channel on 4-hour chart. Minor consolidation would more likely be seen later today. However, further rally is still expected after consolidation and next target would be at 1.0900-1.1000 area. Support is at the bottom of the channel now at 1.0560, only fall below this level could indicate that the rise from 1.0132 has completed.
EURUSD Analysis.
EURUSD continues its downward movement and the fall from 1.4579 extends further to as low as 1.3585 level. Deeper decline is still possible after a minor consolidation and next target would be at 1.3400 area. Resistance is located at the upper border of the falling price channel on 4-hour chart, only rise above the channel resistance could indicate that the downtrend from 1.4579 has completed.
GBPUSD Analysis.
After breaking below 1.5829 previous low support, GBPUSD dropped sharply to as low as 1.5558 level. Another fall to 1.5400-1.5500 area is still possible after a minor consolidation. Resistance is now located at the upper border of the price channel on 4-hour chart. As long as the channel resistance holds, downtrend from 1.6456 will continue.
USDCAD Analysis.
USDCAD’s uptrend extended to as high as 1.0779. The subsequent pullback is more likely consolidation of uptrend. One more rise towards 1.1200 area is expected after consolidation. Key support is now located at 1.0545, only fall below this level will indicate that the uptrend from 1.0224 has completed.
USDJPY Analysis.
USDJPY remains in downtrend from 93.75 and the bounce from 88.57 is treated as minor consolidation of downtrend. One more fall towards 88.00 is still possible after consolidation and a break down below 88.57 could signal resumption of downtrend.
AUDUSD Analysis.
AUDUSD stays below a falling trend line on 4-hour chart and remains in downtrend from 0.9327. Deeper decline is still in favor and next target would be at 0.8500 area. Resistance remains at the falling trend line on 4-hour chart, as long as trend lien resistance holds, downtrend could be expected to continue.
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