EURUSD Analysis.
EURUSD continued its upward move from 1.4102 and the rise extended to as high as 1.4577. Support is at 1.4435, as long as this level holds, uptrend could be expected to continue, and next target would be at 1.4600-1.4650 area. On the downside, a breakdown below 1.4435 will indicate that the uptrend from 1.4102 is complete, then the following downward movement could bring price back to 1.4200 zone.
GBPUSD Analysis.
GBPUSD may be forming a cycle top at 1.6118 on 4-hour chart. Key support is now at 1.5970, a breakdown below this level could trigger another fall to 1.5700 area. Resistance is at 1.6118, only break above this level could indicate that lengthier consolidation of downtrend is underway, then next target would be at 1.6200-1.6250 area.
AUDUSD Analysis.
AUDUSD remains in uptrend from 1.0390. Further rise could be seen in a couple of days, and next target would be at 1.0850 area. Support is at 1.0670, as long as this level holds, uptrend could be expected to continue.
USDCHF Analysis.
USDCHF’s rise from 0.8275 extended to as high as 0.8525. Further rise would likely be seen later today, and next target would be at 0.8600 area. Support is at 0.8430, only break below this level could indicate that the rise from 0.8275 is complete.
USDCAD Analysis.
USDCAD’s downward move extended further to as low as 0.9579. Deeper decline is still possible later today, and next target would be at 0.9500-0.9550 area. Resistance levels are at 0.9610 and 0.9650, as long as these levels hold, downtrend will continue, however, a break above 0.9650 will indicate that consolidation of downtrend is underway, then rebound to 0.9700 area could be seen.
USDJPY Analysis.
USDJPY remains in short term uptrend from 79.69. Key support is now 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 81.60-81.80 area. Only a clear break below the trend line support will indicate that the rise from 79.69 is complete, then the another all towards 78.00 could be seen.
