AUDUSD Analysis.
AUDUSD is testing the resistance of the upper border of the price channel on 4-hour chart, a clear break above the channel resistance will indicate that lengthier consolidation of downtrend from 1.1011 is underway, then further rally could be seen to 1.0850 zone. Key support is at 1.0587, a breakdown below this level will suggest that the downtrend from 1.1011 has resumed, then the following downward move could bring price to 1.0250-1.0300 area.
EURUSD Analysis.
EURUSD remains in uptrend from 1.2969. Support is at the uptrend line on 4-hour chart, as long as the trend line support holds, uptrend could be expected to continue, and next target would be at 1.4750 area. However, a clear break below the trend line will indicate that the uptrend has completed, then another fall towards 1.3500 could be seen.
USDCAD Analysis.
USDCAD stays above a rising trend line from 0.9513 to 0.9655, and remains in uptrend. As long as the trend line support holds, uptrend could be expected to continue and next target would be at 0.9900 area. Resistance is at 0.9851, a break above this level will signal resumption of uptrend.
GBPUSD Analysis.
GBPUSD traded in a range between 1.6286 and 1.6546. As long as 1.6286 support holds, the price action in the range would possibly be consolidation of uptrend from 1.6059, and another rise towards 1.6745 previous high is still possible. However, a breakdown below 1.6059 will indicate that lengthier consolidation of uptrend is underway, then pullback to 1.6000 area could be seen.
USDCHF Analysis.
USDCHF remains in downtrend from 1.8945, and the fall extended to as low as 0.8330. Further fall would likely be seen later today, and next target would be at 0.8200. Resistance is at 0.8452, only break above this level could signal consolidation of downtrend.
USDJPY Analysis.
USDJPY’s fall from 81.76 extended further to as low as 79.98. Another fall to test 79.58 would likely be seen later today, a break below this level will indicate that the longer term downtrend from 85.51 has resumed, then next target would be at 78.00 zone.
