AUDUSD Analysis.
AUDUSD broke below the lower border of the rising price channel on 4-hour chart, suggesting that consolidation of uptrend is underway. Sideways movement in a range between 0.9430 and 0.9599 would more likely be seen. As long as 0.9330 key support holds, uptrend is expected to resume, and another rise to 0.9700-0.9750 area is still possible.
USDCAD Analysis.
USDCAD has formed a cycle bottom at 1.0191 level on 4-hour chart, and the fall from 1.0672 has completed. Further rally is now in favor and next target would be at 1.0450-1.0500 area. Key support is now at 1.0191, only break below this level could indicate that the downtrend from 1.0672 has resumed, then deeper decline could be seen to 1.0150 zone.
GBPUSD Analysis.
GBPUSD broke above 1.5728 resistance and reached as high as 1.5740, suggesting that the uptrend from 1.5296 has resumed. Further rise is still possible in a couple of days and next target would be at 1.5800-1.5850 area. Support is at the lower border of the channel, as long as the channel support holds, uptrend is expected to continue. Key support is at 1.5503, only break below this level will indicate that the rise from 1.5296 has completed at 1.5728 already, then the following downward move could bring price back to re-test 1.5296 previous low support.
USDCHF Analysis.
USDCHF continues its downward movement and the fall extended to as low as 0.9808. As the pair has reached the lower border of the falling price channel on 4-hour chart, minor consolidation of downtrend would more likely be seen and rebound to 0.9950 area is expected later today.
EURUSD Analysis.
EURUSD stays above a uptrend line on 4-hour chart and remains in uptrend from 1.2643 and the pullback from 1.3439 is treated as consolidation of uptrend. Range trading between 1.3250 and 1.3439 would more likely be seen in a couple of days. As long as 1.3250 support holds, we’d expect uptrend to resume and another rise to 1.3600 is still possible.
USDJPY Analysis.
USDJPY is in correction of uptrend from 82.87. Further fall is still possible later today and next target would be at 83.80 area. As long as 82.87 key support holds, uptrend is expected to resume and another rise to test 85.92 key resistance is still possible.
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