AUDUSD Analysis.
AUDUSD rose strongly to as high as 1.0581. Support is now at 1.0500, as long as this level holds, uptrend could b expected to continue, and next target would be at 1.0700 zone. However, below 1.0500 will indicate that a cycle top has been formed on 4-hour chart, then consolidation of uptrend could be seen.
USDCAD Analysis.
USDCAD’s downward movement from 0.9826 extended to as low as 0.9526. Further fall is still possible after a minor consolidation and next target would be at 0.9450 zone. Resistance is at the downtrend line on 4-hour chart, now at 0.9615, as long as the trend line resistance holds, downtrend will continue.
GBPUSD Analysis.
After a minor consolidation, GBPUSD continued its upward movement from 1.5936, and reached as high as 1.6427. Further rise is still possible later today, and next target would be at 1.6500 area. Support is at 1.6320, followed by 1.6257, only break below these levels could indicate that the rise from 1.5936 is complete.
USDCHF Analysis.
USDCHF broke below 0.9126 support and reached as low as 0.9057. Deeper decline towards 0.8922 previous low is expected later today. Resistance is at 91.30, as long as this level holds, downtrend from 0.9339 will continue.
EURUSD Analysis.
EURUSD remains in uptrend from 1.0402, and the rise extended to as high as 1.4487. Further rise is still possible later today and next target would be at 1.4650 zone. Support is at 1.4290, as long as this level holds,uptrend could be expected to continue.
USDJPY Analysis.
USDJPY traded in a narrow range between 84.59 and 85.51. The price action in the range is treated as consolidation of uptrend from 76.40, another rise to 87.00 would likely be seen after consolidation.
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