AUDUSD Analysis.
AUDUSD breaks above the downward trend line from 1.0474 to 0.9897, suggesting that lengthier consolidation of the downtrend from 1.0474 is underway. Range trading between 0.9581 and 0.9897 would likely be seen over the next several days. Key resistance is at 0.9897, as long as this level holds, the downtrend could be expected to resume, an one more fall to 0.9500 area the complete to downward move is still possible. On the upside, a break above 0.9897 will signal completion of the downtrend, then the following upward movement could bring price back to 1.0600 zone.
USDCHF Analysis.
USDCHF is in consolidation of the uptrend from 0.9043. Range trading between 0.9500 and 0.9769 could be seen over the next several days. Key support is at 0.9500, as long as this level holds, we’d expect uptrend to resume, and another rise towards 1.0000 is still possible.
EURUSD Analysis.
EURUSD break above the downward trend line from 1.3283 to 1.2700. Range trading between 1.2288 and 1.2670 would likely be seen over the next several days. Key resistance is at 1.2700, as long as this level holds, another fall towards 1.2000 is still possible.
USDCAD Analysis.
USDCAD remains in uptrend from 0.9799, the fall from 1.0445 is treated as consolidation of the uptrend. As long as the trend line support holds, we’d expect uptrend to resume, and another rise to 1.0500 is still possible, only a clear break below the trend line could signal completion of the uptrend.
USDJPY Analysis.
USDJPY is in consolidation of the downtrend from 84.17 (Mar 15 high). Range trading between 77.66 and 79.00 would likely be seen over the next several days. Support is at 77.66, only break below this level could signal resumption of the downtrend from .
GBPUSD Analysis.
No changed in our view, GBPUSD is in consolidation f the downtrend from 1.6301. Range trading between 1.5268 and 1.5500 would likely be seen over the next several days. Resistance is at 1.5500, as long as this level holds, another fall towards 1.5000 is still possible.
