EURUSD Analysis.
EURUSD’s downward movement from 1.3283 extends to as low as 1.2722. Further decline could be seen after a minor consolidation, and next target would be at 1.2650 area. Resistance is at 1.2800, followed by the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.
USDJPY Analysis.
USDJPY breaks above the upper line of the price channel on 4-hour chart, suggesting that lengthier consolidation of the downtrend from 84.17 (Mar 15 high) is underway. Further rally would likely be seen in a couple of days, and the target would be at 81.00 area.
GBPUSD Analysis.
GBPUSD’s downward movement from 1.6301 extends to as low as 1.5979. Further decline could be expected in a couple of days, and next target would be at 1.5900 area. Initial resistance is at 1.6050, followed by the downward trend line on 4-hour chart, as long as the trend line resistance holds, downtrend will continue.
AUDUSD Analysis.
AUDUSD continues its downward movement from 1.0474, and the fall extends to as low as 0.9920. Further decline could be seen after a minor consolidation, and next target would be at 0.9850 area. Resistance remains at the downtrend line on 4-hour chart, only a clear break above the trend line could signal completion of the downtrend.
USDCAD Analysis.
USDCAD breaks above 1.0062 resistance, and reaches as high as 1.0073. Further rise could be seen, and next target would be at 1.0150 area. Support is at now at the upward trend line on 4-hour chart, as long as the trend line support holds, uptrend will continue.
USDCHF Analysis.
USDCHF continues its upward movement from 0.9043, and the rise extends to as high as 0.9440. Further rise could be seen after a minor consolidation, and next target would be at 0.9500 area. Support is at 0.9350, followed by the upward trend line on 4-hour chart, as long as the trend line support holds, uptrend will continue.
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