EURUSD Analysis.
EURUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.3283, and the fall extends to as low as 1.2681. Another fall to test 1.2624 (Jan 13 low) support could be seen after a minor consolidation. Key resistance remains at the downtrend line, only a clear break above the trend line resistance could signal completion of the downtrend.
USDJPY Analysis.
USDJPY is in consolidation of the downtrend from 84.17 (Mar 15 high). Further rise to 81.00 area to complete the consolidation would likely be seen. Support is at 79.85, a breakdown below this level could trigger another fall towards 78.00.
GBPUSD Analysis.
GBPUSD’s downward movement from 1.6301 extends to as low as 1.5889. Further fall could be seen after a minor consolidation, and next target would be at 1.5750 area. Resistance is now at 1.6000, as long as this level holds, the downtrend will continue.
AUDUSD Analysis.
AUDUSD’s downward movement from 1.0474 extends to as low as 0.9870. Further decline could be expected, and next target would be at 0.9800. Resistance remains at the downtrend line on 4-hour chart, only a clear break above the trend line could signal consolidation of the downtrend.
USDCAD Analysis.
USDCAD stays above a upward trend line on 4-hour chart, and remains in uptrend from 0.9799. As long as the trend line support holds, uptrend could be expected to continue, and next target would be at 1.0200 area, only a clear break below the trend line could signal completion of the uptrend.
USDCHF Analysis.
USDCHF’s upward movement extends to as high as 0.9470. Further rise could be expected after a minor consolidation, and next target would be at 0.9500 area. Support is at 0.9380, 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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