EURUSD Analysis.
EURUSD stays below a downtrend line on 4-hour chart, and remains in downtrend from 1.4535, the rise from 1.4143 would possibly be consolidation of downtrend. As long as the trend line resistance holds, we’d expect downtrend to resume, and another fall towards 1.4050 is possible. Only a clear break above the trend line could indicate that the fall has completed at 1.4143 already, then further rise to 1.4700-1.4800 area could be seen.
USDJPY Analysis.
USDJPY breaks above 78.02 key resistance, suggesting that the fall from 81.47 has completed at 76.29 already. Further rally could be seen in a couple of days, and next target would be at 79.00 area. Key support is now at 76.29, only break below this level could trigger another fall towards 0.7500.
USDCAD Analysis.
USDCAD stays above a uptrend line and remains in uptrend from 0.9406. As long as the trend line support holds, uptrend could be expected to continue, and next target would be at 0.9700 area. On the downside, a clear break below the trend line will indicate that rise is complete, then another fall towards 0.9200 could be seen.
USDCHF Analysis.
USDCHF remains in downtrend from 0.8276, the price action from 0.7609 is treated as consolidation of downtrend. Resistance is at 78.35, as long as this level holds, downtrend could be expected to resume, and another fall towards 0.7500 is still possible.
GBPUSD Analysis.
GBPUSD rebounded strongly from 1.6223, and is now facing 1.6475 resistance, a break above this level could indicate that the uptrend from 1.5781 has resumed, then further rise towards 1.6600 could be seen. On the downside, as long as 1.6475 resistance holds, downtrend could be expected to resume, and another fall to 1.6150 is still possible.
AUDUSD Analysis.
AUDUSD is in downtrend from 1.1080, the price action from 1.0678 is likely consolidation of downtrend. Further fall could be expected after consolidation and next target would be at 1.0550 zone.
