AUDUSD Analysis.
AUDUSD is facing the support of the lower border of the price channel on 4-hour chart. As long as the channel support holds, the price action from 1.0223 is treated as consolidation of the uptrend from 0.9581 (Jun 1 low), and another rise towards 1.0500 could be expected after consolidation. On the downside, a clear break below the channel support will indicate that lengthier consolidation of the uptrend is underway, then deeper decline to 1.0000 could be seen.
USDJPY Analysis.
USDJPY stays in a trading range between 79.13 and 80.09. Key support is now at 79.13, a breakdown below this level will indicate that the uptrend from 77.66 had completed at 80.62 already, then the following downward movement could bring price to 78.00 area. Key resistance is at 80.09, above this level will signal resumption of the uptrend from 77.66, then further rise towards 82.00 could be seen.
EURUSD Analysis.
EURUSD’s downward move from 1.2692 extends to as low as 1.2167. Further decline is still possible after a minor consolidation, and next target would be at 1.2000. Resistance is now at 1.2275, only break above this level will indicate that a cycle bottom is being formed on 4-hour chart, then bounce to 1.2400 area could be seen.
USDCHF Analysis.
USDCHF’s upward movement from 0.9463 extends to as high as 0.9869. Further rise is still possible after a minor consolidation, and next target would be at 0.9900 area. Support is now at 0.9800, only break below this level could indicate that a cycle top is being formed on 4-hour chart, then pullback to 0.9650 area could be seen.
GBPUSD Analysis.
GBPUSD’s downward movement from 1.5721 extends to as low as 1.5393. Further decline towards 1.5268 previous low could be expected after a minor consolidation. Resistance is at 1.5500, as long as this level holds, downtrend will continue.
USDCAD Analysis.
USDCAD’s upward movement extends to as high as 1.0249. Further rise is still possible after a minor consolidation, and the target would be at 1.0300 area. Support is at 1.0165, only break below this level could indicate that a cycle top has been formed at 1.0249 on 4-hour chart, then pullback to 1.0150 area could be seen.
