AUDUSD breaks below 1.0225 previous low support and reaches as low as 1.0110, suggesting that the downtrend from 1.0855 (Feb 29 high) has resumed. Further decline could be expected after a minor consolidation, and next target would be at 1.0000 area. Resistance is at 1.0200, as long as this level holds, the downtrend from 1.0474 will continue.
USDJPY is facing 79.63 previous low support, a breakdown below this level will signal resumption of the downtrend from 87.17, then further decline towards79.00 could be seen. On the upside, as long as 79.63 support holds, one more rise to test the resistance of the upper line of the price channel on 4-hour chart is still possible, a clear break above the channel resistance will indicate that the downward movement from 84.17 has completed at 79.63 already, then the following upward movement could bring price back to 83.00 zone.
GBPUSD’s downward movement from 1.6301 extends to as low as 1.6115. Further decline would likely be seen, and next target would be at 1.6000 area. Resistance is now located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend will continue.
EURUSD breaks below 1.2995 support and reaches as low as 1.2955. Further decline is expected after a minor consolidation, and next target would be at 1.2900 area. Resistance is at 1.3050, as long as this level holds, the downtrend from 1.3283 will continue.
USDCAD’s upward movement extends to as high as 0.9985. Further rise could be seen after a minor consolidation, and next target would be at 1.0000. Support is at 0.9950 followed by 0.9920, as long as these levels hold, the uptrend will continue.
USDCHF’s upward movement from 0.9043 extends to as high as 0.9270. Further rise could be seen after a minor consolidation, and next target would be at 0.9300 area. Support is at 0.9200, as long as this level holds, uptrend will continue.