GBPUSD Analysis.
GBPUSD’s rise from 1.4948 extends to as high as 1.5296 level. Further rally is still in favor later today and target would be at 1.5400 area. Initial support is at 1.5180, as long as this level holds, uptrend from 1.4948 will continue. Key support is at 1.5100, only fall below this level could indicate that lengthier consolidation of uptrend is underway, then sideways movement between 1.4870 and 1.5300 could be seen.
EURUSD Analysis.
EURUSD’s rise from 1.2150 extends to as high as 1.2777 level. Further rally is still possible later today and next target would be at 1.2900 area. On the other side, the pair is facing the upper boundary of a rising price channel on 4-hour chart, consolidation in a range between 1.2520 and 1.2800 is possible. Support is at 1.2675, below this level will suggest that consolidation of uptrend is underway.
USDCHF Analysis.
Being contained by 1.0695 key resistance, USDCHF dropped from 1.0675. Now the fall from 1.0675 could possibly be resumption of downtrend from 1.1730. Deeper decline could be expected later today, a breakdown below 1.0480 could signal resumption of downtrend, then next target would be at 1.0400 area.
USDCAD Analysis.
USDCAD remains in downtrend from 1.0676. The price action in the range between 1.0276 and 1.0385 is treated as consolidation of downtrend. Another fall towards 1.0138 previous low is expected after consolidation.
AUDUSD Analysis.
As expected, AUDUSD breaks above 0.8858 previous high. Key support is at 0.8682, as long as this level holds, another rise to 0.9000 area is still possible. On the downside, a break below 0.8682 key support will suggest that uptrend from 0.8315 is complete.
USDJPY Analysis.
USDJPY traded in a range between 88.00 and 89.15. Key support is at 88.00, as long as this level holds, one more rise to 89.50-90.00 area is still possible. However, below 88.00 will indicate that the bounce from 86.96 has completed at 89.15 already, then another fall towards 84.82 (2009 low) could be seen.
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