GBPUSD Analysis.
GBPUSD’s fall from 1.6343 extended to as low as 1.6125. Deeper decline towards the rising trend line on 4-hour chart is still possible later today. Uptrend could be expected to resume after touching the trend line. On the other side, a clear break below the trend line support will indicate that lengthier consolidation of uptrend from 1.5344 is underway, then the next target would be at 1.6000 zone.
AUDUSD Analysis.
AUDUSD’s fall from 1.0201 extended further to as low as 1.0053 level. Deeper decline is expected in a couple of days, and next target would be at 1.0000 area. Resistance is at 1.0135, as long as this level holds, short term downtrend from 1.0201 will continue.
USDJPY Analysis.
USDJPY stays in a trading range between 81.57 and 83.03. Moving sideways without trend would likely be seen in next several days. Key support is at 81.57, a break below this level will signal resumption of long term downtrend.
EURUSD Analysis.
EURUSD formed a cycle top at 1.4035 level on 4-hour chart. Pullback towards the lower border of the price channel could be seen. However, the fall from 1.4035 is treated as consolidation of uptrend from 1.3428, as long as the channel support holds, uptrend could be expected to resume, and another rise towards 1.4200 is still possible after consolidation.
USDCHF Analysis.
USDCHF’s bounce from 0.9201 extended to as high as 0.9363 level. Further rally is still possible later today, and next target would be at 0.9400-0.9450 area. However, the bounce is treated as consolidation of downtrend from 0.9774, a breakdown below 0.9201 key support will indicate that the downtrend has resumed, then next target would be at 0.9100 zone.
USDCAD Analysis.
USDCAD stays in a trading range between 0.9683 and 0.9775. The price action in the range is treated as consolidation of downtrend. Support is at 0.9683, a breakdown below this level will indicate that the downtrend has resumed, then next target would be at 0.9600 zone.
