EURUSD Analysis.
EURUSD’s downward movement from 1.3283 extends to as low as 1.2323. Further decline could be seen after a minor consolidation, and next target would be at 1.2200 area. Initial resistance is at 1.2430, a break above this level could indicate that a cycle bottom is being formed on 4-hour chart, then, consolidation of the downtrend could be seen. Key resistance is at the downward trend line, only a clear break above the trend line could signal completion of the downtrend.
USDCAD Analysis.
USDCAD continues its upward movement from 0.9799, and the rise extends to as high as 1.0365. Further rise is still possible after a minor consolidation, and next target would be at 1.0400 area. Key support remains at the upward trend line, only a clear break below the trend line support could signal completion of the uptrend.
AUDUSD Analysis.
AUDUSD’s downward movement from 1.0474 extends to as low as 0.9648. Resistance is now at the trend line from 1.0474 to 0.9897, as long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 0.9600 area.
USDJPY Analysis.
USDJPY’s downward movement from 84.17 (Mar 15 high) extends to as low as 78.21. Another fall could be expected, and next target would be at 77.50-78.00 area. Resistance is at 78.80, only break above this level could indicate that a cycle bottom has been formed at 78.21 on 4-hour chart, then consolidation of the downtrend could be seen.
GBPUSD Analysis.
GBPUSD continues its downward movement from 1.6301, and the fall extends to as low as 1.5360. Further decline could be seen after a minor consolidation, and next target would be at 1.5250-1.5300 area. Resistance is at 1.5500, only break above this level could signal completion of the downtrend.
USDCHF Analysis.
USDCHF’s upward movement extends to as high as 0.9744. The uptrend could be expected to continue after a minor consolidation, and next target would be at 0.9800 area. Initial support is at 0.9665, and the key support is located at the uptrend line on 4-hour chart, only a clear break below the trend line could signal completion of the uptrend.
