AUDUSD Analysis.
After breaking above 0.9404 (2009 high) resistance, AUDUSD pulled back from 0.9457, suggesting minor consolidation of uptrend from 0.8771 is underway. Support is at the lower border of the rising price channel on 4-hour chart, now at 0.9280, as long as the channel support holds, uptrend is expected to resume, and one more rise to 0.9600 is still possible. Key support is at 0.9240, below this level will indicate that the uptrend from 0.8771 has completed at 0.9457 already, then deeper decline could be seen to 0.9000 zone.
USDCHF Analysis.
Being supported by 0.9917 (2009 low), USDCHF rebounded from 0.9932, suggesting that a cycle bottom is being formed on 4-hour chart. Range trading between 0.9932 and 1.0150 would more likely be seen in a couple of days. Support remains at 0.9917, only break below this level could trigger another fall to 0.9700 area.
EURUSD Analysis.
EURUSD’s bounce from 1.2643 extended to as high as 1.3036 level. Further rise is still possible in a couple of days and next target would be at 1.3100-1.3150 area. Support is at 1.2930, as long as this level holds, uptrend will continue.
GBPUSD Analysis.
GBPUSD’s bounce from 1.5296 extended to as high as 1.5650 level. Further rally is still possible in a couple of days, and next target would be at 1.5750-1.5800 area. Support is at 1.5440, only break below this level could trigger another fall to 1.5200 zone.
USDCAD Analysis.
USDCAD stays below a downtrend line from 1.0672 to 1.0508 and remains in downtrend, and the bounce from 1.0215 is treated as consolidation of downtrend. As long as the trend line resistance holds, downtrend is expected to continue after a minor consolidation and next target would be at 1.0150 area.
USDJPY Analysis.
Unexpected bounce from 82.87 brought USDJPY to as high as 85.76 level. Now the pair is facing 85.89 resistance, a break above this level will suggest that the bearish move from 92.88 (Jun 4 high) has completed at 82.87 already, then the following upward movement could bring price to 90.00 area.
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