USDCAD Analysis.
USDCAD formed a sideways consolidation in a range between 1.0191 and 1.0378. Bounce towards 1.0378 key resistance would more likely be seen, a break above this level will confirm that the downtrend from 1.0672 has completed at 1.0191 already, then the following upward move could bring price back to 1.0600 area. Key support is at 1.0191, only break below this level could indicate that the downtrend from 1.0672 has resumed, then further decline could be seen to 1.0150 area.
AUDUSD Analysis.
AUDUSD’s upward movement extended to as high as 0.9643 level. Support is at the rising trend line on 4-hour chart, as long as the trend line support holds, uptrend is expected to continue and next target would be at 0.9700-0.9750 area. However, a clear break below the trend line support will indicate that a cycle top is being formed on 4-hour chart, then consolidation of uptrend could be seen to follow.
GBPUSD Analysis.
GBPUSD runs in a rising price channel on 4-hour chart and remains in uptrend from 1.5296, and the rise extended to as high as 1.5866 level. Further rise towards the upper border of the channel is expected later today. Support is at the lower border of the channel now at 1.5632, only a clear break below the channel support could indicate that uptrend from 1.5296 has completed, then another fall below 1.5296 previous low could be seen.
USDCHF Analysis.
After touching the lower border of the price channel on 4-hour chart, USDCHF moved sideways in a narrow range. Bounce to 0.9950 area to reach next cycle top would more likely be seen later today.
EURUSD Analysis.
EURUSD stays above a rising trend line on 4-hour chart, and remains in uptrend from 1.2643. As long as the trend line support (now at 1.3345) holds, uptrend is expected to continue and next target would be at 1.3600 area. Key support is at 1.3286, only break below this level will suggest that the rise from 1.2643 is complete.
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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