EURUSD Analysis.
After a minor consolidation, EURUSD continues its upward movement from 1.2732 and the rise extended to as high as 1.3333 level. Support is at the lower border of the price channel on 4-hour chart, now at 1.3194, as long as the channel support holds, another rise is still possible and next target would be at 1.3500-1.3600 area. On the downside, a clear break below the channel support will indicate that the rise from 1.2732 is complete.
USDCHF Analysis.
USDCHF’s downward movement extended to as low as 1.0331 level. However, the pair has lost its momentum, run in the falling price channel on 4-hour chart would more likely be seen in next several days.
GBPUSD Analysis.
GBPUSD broke above the trading range between 1.5820 and 1.5967, suggesting that the minor consolidation in the range has completed and uptrend resumed. Further rise is now in favor and next target would be at 1.6200 area. Key support remains at 1.5820, only fall below this level could indicate that the rise from 1.5124 is complete.
USDJPY Analysis.
USDJPY continues its downward movement and the fall from 88.11 extended to as low as 85.02 level. Resistance is now at the trend line from 86.87 to 86.44, as long as the trend line resistance holds, downtrend is expected to continue and next target is at 84.82 (2009 low). However, a clear break above the trend line resistance will indicate that the downtrend from 88.11 is complete, then the follow upward movement could bring price back to 87.50 area.
USDCAD Analysis.
USDCAD broke above 1.0272 key resistance, suggesting that a cycle bottom had been formed at 1.0107 level on 4-hour chart, and the fall from 1.0585 had completed. Further rally would more likely be seen in a couple of days and next target would be at 1.0394 resistance. Key support is at 1.0107, only fall below this level could take price back to 1.0000 area.
AUDUSD Analysis.
AUDUSD stays above a uptrend line from 0.8632 to 0.8905, and remains in uptrend. Further rise is still possible later today and next target would be at 0.9300 area. Support is at the trend line, now at 0.9154 and key support is located at 0.9070, only break below these levels could indicate that the rise from 0.8632 is complete.
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