USDCHF Analysis.
USDCHF remains in uptrend from 1.0501 (Feb 14 low), and the fall from 1.1695 is treated as consolidation of uptrend. Range trading between 1.1424 and 1.1695 would more likely be seen in a couple of days. As long as 1.1424 support holds, we would expect uptrend to resume and another rise to 1.1800 is possible. However, a breakdown below 1.1424 level will indicate that the rise from 1.0501 has completed at 1.1695 already, then deeper decline could be seen to 1.1300 area.
EURUSD Analysis.
EURUSD is testing 1.2144 support. A break below this level will indicate that the downtrend from 1.3691 (Apr 12 high) has resumed, then deeper decline could be seen to 1.1800 area. Resistance is at 1.2388, only rise above this level could take price back to range trading between 1.2144 and 1.2671.
USDCAD Analysis.
USDCAD remains in uptrend from 1.0110. The fall from 1.0852 is more likely consolidation of uptrend. Range trading between 1.0533 and 1.0852 is expected in a couple of days. As long as 1.0533 support holds, another rise is still possible and next target would be at 1.1000 area. However, a breakdown below 1.0533 will indicate that the rise from 1.0110 has completed at 1.0852 already, then another fall towards 0.9930 (Apr 21 low) could be seen.
AUDUSD Analysis.
AUDUSD might be forming a cycle top at 0.8389 level on 4-hour chart. Another fall to 0.7800 is expected. Resistance is at 0.8389 only rise above this level could indicate that lengthier consolidation is underway.
GBPUSD Analysis.
Being supported by the lower border of the falling price channel on daily chart, GBPUSD movement sideways in a range between 1.4230 and 1.4527. A break below 1.4230 will signal resumption of downtrend from 1.5522, then target would be at 1.4000 area. Resistance is at 1.4527, above this level will bring price to 1.4800 area.
USDJPY Analysis.
USDJPY’s bounce from 88.98 extends further to as high as 90.66 level. Another rise to test 91.00 is still possible later today, above this level could trigger another rally towards 94.98 previous high. However, a break below 88.98 will indicate that the downtrend from 93.62 has resumed, then deeper decline could be seen to 86.00 area.
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