AUDUSD Analysis.
AUDUSD broke below 1.0177 support and reached as low as 1.0148. Key resistance is at 1.0398, as long as this level holds, downtrend from 1.0764 could be expected to continue, and next target would be at 1.0050 area. However, a break above 1.0398 will indicate that the fall from 1.0764 has completed, then the following upward move could bring price back to 1.0800-1.0900 area.
GBPUSD Analysis.
GBPUSD’s downward movement from 1.6453 extended to as low as 1.5633. Initial resistance remains at the downtrend line on 4-hour chart, as long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 1.5500 area. Key resistance is at 1.5868, only break above this level could indicate that the fall from 1.6453 is complete.
USDCAD Analysis.
As expected, USDCAD formed a cycle bottom at 0.9779 on 4-hour chart. Further rise towards 1.0025 could be expected in a couple of days, a break above this level could signal resumption of the longer term uptrend from 0.9406, then the following upward move could bring price to 1.0200 zone.
USDCHF Analysis.
USDCHF is in uptrend from 0.7067, the price action from 0.8925 is treated as consolidation of uptrend. Range trading between 0.8540 and 0.8925 is expected to continue in a couple of days. As long as 0.8540 support holds, uptrend could be expected to resume, and a break above 0.8925 could signal resumption of uptrend.
EURUSD Analysis.
EURUSD is forming a sideways consolidation in a rang between 1.3499 and 1.3936. As long as 1.3936 resistance holds, downtrend could be expected to resume after consolidation, and a breakdown below 1.3499 could signal resumption of downtrend.
USDJPY Analysis.
USDJPY is in short term downtrend from 77.85, and the fall extended to as low as 76.32. Another fall to test 75.96 previous low support is still possible, a breakdown below this level will signal resumption of the long term downtrend from 124.16 (2007 high).
