GBPUSD Analysis.
GBPUSD moves sideways in a range between 1.5719 and 1.5894. The price action in the trading range is treated as consolidation of uptrend from 1.5296. Support is at the lower border of the rising price channel, now at 1.5690, uptrend is expected to resume after touching the channel support. However, a clear break below the lower border will indicate that the uptrend from 1.5296 has completed at 1.5894 already, then the following downward move could bring price to re-test 1.5296 previous low support.
USDCAD Analysis.
USDCAD continues its sideways movement in a range between 1.0191 and 1.0378. Lengthier consolidation in the trading range would more likely be seen later today. Key resistance is at 1.0378, a break above this level will indicate that the fall from 1.0672 has completed at 1.0191 already, then the following upward move could bring price to 1.0600 area. However, a breakdown below 1.0191 will indicate that the downtrend from 1.0672 has resumed, then next target would be at 1.0150 area.
AUDUSD Analysis.
AUDUSD remains in bullish movement from 0.8771 and the rise extended to as high as 0.9728 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 further rise to 0.9750-0.9800 area is possible. However, a clear break below the trend line support will indicate that consolidation of uptrend is underway, then pullback to test 0.9462 could be seen.
USDCHF Analysis.
USDCHF remains in downward movement from 1.1730 (Jun 1 high). Further decline is expected in a couple of days and next target would be at 0.9700 area. Resistance is at 0.9899 followed by the trend line.
EURUSD Analysis.
EURUSD continues its upward move from 1.2643 and the rise extended to as high as 1.3646 level. Support is at the rising trend line on 4-hour chart, now at 1.3460, as long as this level holds, uptrend is expected to continue and next target would be at 1.3700-1.3750 area. Only a break below 1.3381 could indicate that the rise from 1.2643 is complete.
USDJPY Analysis.
USDJPY’s fall from 85.92 extended to as low as 83.49. As next cycle bottom is nearing, rebound is expected before breaking below 82.87 previous low, and one more rise to test 85.92 key resistance would more likely be seen.
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