USDCAD Analysis.
USDCAD moved sideways in a range between 0.9930 and 1.0215. The price action in the range is treated as consolidation of longer term downtrend from 1.0779 (Feb 5 high). As long as 1.0302 key resistance holds, we’d expect downtrend to resume, and another fall to 0.9800 is possible after consolidation. However, a break of 1.0302 will indicate that the fall from 1.0779 has completed at 0.9930 already, then the following uptrend could take price to 1.0500 area.
AUDUSD Analysis.
AUDUSD stays in a trading range between 0.9134 and 0.9381. Sideways movement in the range is expected to continue in a couple of days. Key resistance is now at 0.9340, a break above this level will indicate that the uptrend from 0.8577 has resumed, then another rise to 0.9500 area could be seen.
GBPUSD Analysis.
GBPUSD traded in a range between 1.5125 and 1.5522. Another fall to 1.5000 area to reach next cycle bottom on 4-hour chart is still possible. Key resistance is at 1.5522, only rise above this level could trigger another rally to 1.5700-1.5800 area.
EURUSD Analysis.
EURUSD remains in downtrend from 1.3691 and the price action from 1.3202 is treated as consolidation of downtrend. Resistance is now at 1.3345 followed by 1.3415, as long as 1.3415 resistance holds, another fall towards 1.3000 area is still possible and a breakdown below 1.3114 could signal resumption of downtrend, only rise above 1.3415 could indicate that the fall from 1.3691 has completed at 1.3114 already.
USDJPY Analysis.
USDJPY breaks above 94.68 previous high and reaches as high as 94.98 level. Further rally is still possible later today and next target would be at 95.50-96.00 area. Support is at the uptrend line from 91.60 to 92.81, as long as the trend line support holds, uptrend from 91.60 will continue.
USDCHF Analysis.
USDCHF remains in uptrend from 1.0501 and the price action from 1.0849 is treated as consolidation of uptrend. As long as 1.0699 support holds, another rise to 1.1000 is possible after consolidation and a break above 1.0923 could signal resumption of uptrend.
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