AUDUSD Analysis.
AUDUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.0596, the fall from 1.0855 is treated as consolidation of the uptrend. As long as the trend line support holds, uptrend could be expected to resume, and one more rise towards 1.1080 previous high is still possible. Support is at 1.0714, a breakdown below this level will indicate that the rise from 1.0596 is complete, then deeper decline to test 1.0596 key support could be seen.
USDCAD Analysis.
USDCAD’s downward movement from 1.0049 extends to as low as 0.9841. Further decline would likely be seen later today, and next target would be at 0.9800 area. Resistance is at 0.9910, as long as this level holds, downtrend will continue.
USDCHF Analysis.
USDCHF’s bounce from 0.8931 extends to as high as 0.9071. Further rise could be expected later today, and next target would be at 0.9100-0.9150 area. Support is at 0.9020, only break below this level could indicate that a cycle top is being formed on 4-hour chart, then deeper decline to test 0.8931 support could be seen.
EURUSD Analysis.
EURUSD’s fall from 1.3486 extends to as low as 1.3283. Further decline would likely be seen later today, and next target would be at 1.3150-1.3200 area. Resistance is at 1.3360, only break above this level could signal completion of the downtrend.
USDJPY Analysis.
No changed in our view, USDJPY is in downtrend from 81.65, the bounce from 80.01 is likely correction of the downtrend. Range trading between 80.01 and 81.65 would likely be seen in a couple of days. Key resistance is at 81.65, only break above this level could signal resumption of the uptrend from 76.02.
GBPUSD Analysis.
GBPUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.5648. Further rise is still possible after a minor consolidation, and next target would be at 1.6100 area, only a clear break below the trend line could indicate that the rise is complete.
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