AUDUSD Analysis.
AUDUSD breaks below 1.0596 key support and reaches as low as 1.0507, suggesting that the uptrend form 0.9861 (Dec 15, 2011 low) has completed at 1.0855 already. Further decline is expected after a minor consolidation, and next target would be at 1.0450. Resistance is at 1.0600, as long as this level holds, the downtrend from 1.0855 will continue.
USDCAD Analysis.
USDCAD’s bounce from 0.9841 extends to as high as 1.0028. Further rise to test 1.0050 key resistance would likely be seen, a break above this level will indicate that the downtrend from 1.0422 (Dec 14, 2011 high) is complete.
USDCHF Analysis.
USDCHF continues its upward movement from 0.8931 and reaches as high as 0.9196. Further rise is still possible after a minor consolidation, and next target would be at 0.9300 area. Support is at 0.9100, only break below this level could signal completion of the uptrend.
EURUSD Analysis.
EURUSD continues its downward movement from 1.3486, and the fall extends to as low as 1.3103. Further fall is still possible after a minor consolidation, and next target would be at 1.3000 area. Resistance is at 1.3240, only break above this level could signal completion of the downtrend.
USDJPY Analysis.
USDJPY remains in uptrend from 76.02, the price action from 81.65 is treated as consolidation of the uptrend. Range trading between 80.01 and 81.86 is possible in a couple of days. As long as 80.01 support holds, we’d expect uptrend to resume, and another rise towards 85.00 could be seen after consolidation.
GBPUSD Analysis.
GBPUSD’s fall from 1.5991 extends to as low as 1.5696. Further decline to test 1.5648 key support would likely be seen, a breakdown below this level will confirm that the uptrend from 1.5236 has completed at 1.5991 already, then the following downward movement could bring price to 1.5000 area.
