AUDUSD Analysis.
AUDUSD stays within a downward price channel on 4-hour chart, and remains in downtrend from 1.0855, the price action from 1.0243 could be treated as consolidation of the downtrend. Another fall could be seen after consolidation and the next target would be at 1.0200 area. Resistance is at the upper line of the channel, only a clear break above the channel resistance could signal completion of the downtrend.
USDJPY Analysis.
USDJPY has reached the bottom of the price channel on 4-hour chart. Rebound would likely be seen over the next several days, and the target would be at the upper line of the channel. As long as the channel resistance holds, the rise could be treated as consolidation of the downtrend from 84.17, and another fall towards 80.00 is still possible.
USDCAD Analysis.
USDCAD is facing 1.0050 key resistance, a break above this level will indicate that the downward movement from 1.0422 (Dec 14, 2011 high) has completed at 0.9841 already, then the following upward movement could bring price to 1.0400 area. However, as long as 1.0050 level holds, lengthier sideways movement in the range between 0.9841 and 1.0050 is still possible.
GBPUSD Analysis.
GBPUSD is in downtrend from 1.6062, the bounce from 1.5804 is likely correction of the downtrend. Further rise to 1.5960 area to complete the correction could be expected. Support is at 1.5804, a breakdown below this level will signal resumption of the downtrend.
EURUSD Analysis.
Being supported by 1.3003, EURUSD rebounded from 1.3033. The bounce is likely consolidation of the downtrend from 1.3385. Another fall to test 1.3003 could be expected after consolidation, a breakdown below this level will signal resumption of the longer term downtrend from 1.3486 (Feb 24 high), then deeper decline towards 1.2624 (Jan 13 low) could be seen.
USDCHF Analysis.
USDCHF remains in uptrend from 0.9001, the fall from 0.9221 is likely correction of the uptrend. Another rise to test 0.9333 resistance would likely be seen after correction. Support levels are at 0.9130 and 0.9100.
