EURUSD Analysis.
EURUSD stays above the rising trend line on 4-hour chart, and remains in uptrend from 1.3969. Key support is now at 1.4557, as long as this level holds, uptrend could be expected to continue, and next target would be at 1.4750 area. However, a breakdown below 1.4557 will indicate that a cycle top has been formed, and the rise from 1.3969 has completed, then the following downward move could bring price back towards 1.3500.
AUDUSD Analysis.
AUDUSD’s rise from 1.0440 was limited by the upper border of the price channel on 4-hour chart. Pullback to test 1.0587 key support would likely be seen later today, a breakdown below this level will confirm that the rise from 1.0440 has completed at 1.0773 already, then the following downward move could bring price to 1.0250-1.0300 area. However, a break above 1.0773 will indicate that lengthier consolidation of downtrend from 1.1011 is underway, then further rally could be seen to 1.0850 zone.
USDCAD Analysis.
USDCAD remains in uptrend from 0.9444, the fall from 0.9851 is treated as consolidation of uptrend. Support is at the uptrend line on 4-hour chart, as long as the trend line support holds, uptrend could be expected to resume, and another rise to 0.9900 is still possible.
GBPUSD Analysis.
GBPUSD stays in a range between 1.6286 and 1.6546. Support is at 1.6286, as long as this level holds, the price action in the range is treated as consolidation of uptrend from 1.6059, and one more rise towards 1.6745 is possible, only break below 1.6286 could trigger another fall to test 1.6059 support.
USDCHF Analysis.
USDCHF’s downward move from 0.8945 extended to as low as 0.8326. Resistance is at 0.8452, as long as this level holds, downtrend could be expected to continue, and next target would be at 0.8200 area.
USDJPY Analysis.
USDJPY is in downtrend from 81.76, and the fall extended to as low as 79.84. Resistance is at the downtrend line on 4-hour chart, as long as the trend line resistance holds, downtrend could be expected to continue, and deeper decline to test 79.58 support could be seen.
