EURUSD Analysis.
EURUSD’s bearish movement extends further to as low as 1.2144 level. Deeper decline is still possible later today and next target would be at 1.2000 area. Resistance is at the falling trend line from 1.3093 to 1.2444, now at 1.2390, as long as this level holds, downtrend will continue. Key resistance is at 1.2444, above this level will suggest that a cycle bottom is being formed, then sideways consolidation of downtrend could be seen.
USDCHF Analysis.
USDCHF continues its upward movement and reaches as high as 1.1531 level. Further rally is still possible in a couple of days and next target would be at 1.1600-1.1650 area. Support is at the rising trend line on 4-hour chart, now at 1.1295, only fall below this level could indicate that the rise from 1.0923 has completed.
AUDUSD Analysis.
AUDUSD continues its sharp drop from 0.9077 and breaks below 0.8577 (Feb 5 low). Deeper decline is still possible later today and next target would be at 1.8400-1.8450 area. Resistance is at 0.8750, as long as this level holds, downtrend could be expected to continue.
GBPUSD Analysis.
GBPUSD remains in bearish movement from 1.5053. Further fall to 1.4000-1.4100 area would more likely be seen later today. Resistance is at the falling trend line on 4-hour chart, now at 1.4425, as long as this level holds, downtrend will continue.
USDCAD Analysis.
USDCAD’s bounce from 1.0110 extends to as high as 1.0447. Further rally is expected later today and first target would be at 1.0500 followed by 1.0575. Support is at the rising trend line from 1.0110 to 1.0246, as long as the trend line support holds, uptrend will continue.
USDJPY Analysis.
USDJPY is in uptrend from 88.25 and the fall from 93.62 is more likely consolidation of uptrend. Resistance is now at the falling trend line from 93.62 to 92.96, a clear break above the trend line resistance could indicate that a cycle bottom is being formed on 4-hour chart, then another rise towards 94.98 previous high could be seen.
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