USDJPY Analysis.
Being supported by 76.40 previous low, USDJPY rebounded from 76.72. The pair is now facing the resistance of the downtrend line on 4-hour chart, as long as the trend line resistance holds, another fall to re-test 76.40 support is possible. On the upside, a clear break above the trend line will indicate that the fall form 81.47 has completed at 76.72 already, then the following upward move could bring price back to 82.00-83.00 area.
EURUSD Analysis.
EURUSD broke below the lower border of the price channel on 4-hour chart, suggesting that the rise from 1.3837 has completed at 1.4535 already. Range trading between 1.4229 and 1.4535 would likely be seen in a couple of days. Key resistance is at 1.4535, only break above this level could signal resumption of uptrend.
USDCAD Analysis.
USDCAD’s rise extended to as high as 0.9590, the subsequent fall would possibly be resumption of downtrend from 0.9912. Deeper decline towards 0.9406 previous low would likely be seen in a couple of days, a breakdown below this level will target 0.9300.
USDCHF Analysis.
USDCHF continued its downward move from 0.8276, and the fall extended to as low as 0.7850. Deeper decline could be expected after a minor consolidation, and next target would be at 0.7700 area. Resistance is at 0.8000, as long as this level holds, downtrend will continue.
GBPUSD Analysis.
GBPUSD continued its upward move from 1.5781 and the rise extended to as high as 1.6475. Support is now a 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 1.6600 area.
AUDUSD Analysis.
AUDUSD broke below the uptrend line on 4-hour chart, suggesting that consolidation of uptrend is underway. Range trading between 1.0911 and 1.1080 would likely be seen in a couple of days. Key resistance is at 1.1080, a break above this level will signal resumption of uptrend, then next target would be at 1.1200 zone.
