USDCAD Analysis.
USDCAD’s fall from 0.9973 extended to as low as 0.9683. The pair is now facing 0.9667 support, a break below this level will indicate that the longer term downtrend from 1.0672 (Aug 31, 2010 high) has resumed, then next target would be at 0.9500 zone. Resistance is at 0.9750, above this level will suggest that lengthier consolidation of downtrend is underway, then bounce to 0.9900 area could be seen.
USDCHF Analysis.
USDCHF is forming a cycle top at 0.9274 on 4-hour chart. Key support is at 0.9126, a break below this level will confirm the cycle top, then deeper decline towards 0.8922 previous low could be seen. Resistance is at 0.9274, only break above this level could trigger another rise to 0.9350 area.
GBPUSD Analysis.
GBPUSD’s bounce extended to as high as 1.6150, the subsequent fall could possibly be resumption of downtrend from 1.6400. Deeper decline towards 1.5936 support is expected later today, a break below this level will target 1.5700-1.5800 area.
AUDUSD Analysis.
AUDUSD’s upward move from 0.9704 extended to as high as 1.0372. Further rise is still possible in a couple of days, and next target would be at 1.0450 area. Support is at 1.0260, followed by 1.0204, as long as these levels holds, uptrend could be expected to continue.
EURUSD Analysis.
Being contained by 1.4248 resistance, EURUSD pulled back from 1.4232, suggesting that lengthier consolidation of uptrend from 1.3428 (Feb 14 low) is underway. Range trading between 1.4020 and 1.4248 would likely be seen in a couple of days.
USDJPY Analysis.
USDJPY’s upward movement extended to as high as 83.67. Support is at 82.50, as long as this level holds, uptrend could be expected to continue, and next target would be at 84.00 area.
