EURUSD Analysis.
EURUSD remains in uptrend from 1.2288, the price action from 1.2747 is treated as consolidation of the uptrend. Key support is at 1.2500, as long as this level holds, another rise to 1.2800-1.2900 area is still possible after consolidation, and a break above 1.2747 could signal resumption of the uptrend. On the other side, a breakdown below 1.2500 will indicate that the rise from 1.2288 has completed at 1.2747 already then the following downward movement could bring price to 1.2000 zone.
USDCHF Analysis.
USDCHF remains in downtrend from 0.9769, the price action from 0.9421 is likely consolidation of the downtrend. Key resistance is at 0.9600, as long as this level holds, another fall could be expected after consolidation, and next target would be at 0.9300 area. However, a break above 0.9600 resistance will indicate that the fall from 0.9769 has completed at 0.9421 already, then further rise towards 1.0000 could be seen.
USDJPY Analysis.
USDJPY has formed a cycle bottom at 78.61 on 4-hour chart. The rise from 78.61 is likely resumption of the short term uptrend from 77.66. Further rise to test 79.78 resistance could be expected, a break above this level will target 80.50 area. Support is at 78.61, only break below this level could trigger another fall towards 77.66 previous low.
AUDUSD Analysis.
AUDUSD continue its upward movement from 0.9581, and the rise extends to as high as 1.0201. Further rise is still possible after a minor consolidation, and next target would be at 1.0300 area. Key support is at 1.0055, only break below this level could signal completion of the uptrend.
USDCAD Analysis.
USDCAD’s downward movement from 1.0445 extends to as low as 1.0166. Resistance is now located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 1.0100 zone, only a clear break above the trend line could signal completion of the downtrend.
GBPUSD Analysis.
After a minor consolidation, GBPUSD continues its upward movement from 1.5268 and the rise extends to as high as 1.5756. Support remains at 1.5600, as long as this level holds, further rise could be expected, and next target would be at 1.5850 area.
