AUDUSD Analysis.
AUDUSD’s upward movement extends to as high as 1.0328. Support is now at 1.0240, a breakdown below this level will indicate that a cycle top has been formed on 4-hour chart, then consolidation of the uptrend could be seen to follow, and the trading range would be between 1.0180 and 1.0328. On the upside, as long as 1.0240 support holds, the uptrend from 0.9968 could be expected to continue, and another rise towards 1.0400 is still possible.
USDCHF Analysis.
USDCHF break above 0.9678 resistance. Further rise to test 0.9769 previous high resistance would likely be seen, a break above this level could trigger another rise towards 1.0000. Support is at 0.9650, as long as this level holds, the short term uptrend from 0.9463 will continue.
GBPUSD Analysis.
GBPUSD is facing 1.5484 support, a breakdown below this level will indicate that the downtrend from 1.5776 has resumed, then further decline to 1.5350-1.5400 area could be seen. Resistance is at 1.5721, only break above this level could trigger another rise towards 1.6000.
USDJPY Analysis.
USDJPY rebounds from the lower line of the price channel on 4-hour chart. As long as the channel support holds, the short term uptrend from 79.14 could be expected to continue, and another rise to test 80.62 resistance could be expected, only a clear break below the channel support could bring price back to 78.00 zone.
EURUSD Analysis.
EURUSD breaks below 1.2407 support, suggesting that the downtrend from 1.2747 has resumed. Further decline to test 1.2288 previous low support would be seen in a couple of days, and a breakdown below this level will signal resumption of the longer term downtrend from 1.3486 (Feb 24 high), then next target would be at 1.2000. Resistance is at 1.2465, only break above this level could bring price back to re-test 1.2747 resistance.
USDCAD Analysis.
USDCAD may be forming a cycle bottom at 1.0100 on 4-hour chart. Range trading between 1.0100 and 1.0200 would likely be seen over the next several days. Support is at 1.0100, only break below this level could trigger another fall to 1.0000.
