AUDUSD Analysis.
AUDUSD breaks above 1.0443 previous high resistance, and continues its upward movement from 0.9581 (Jun 1 low). Further rise could be expected over the next several days, and the target would be at the upper line of the price channel on 4-hour chart. Support is at 1.0400, only break below this level could signal completion of the short term uptrend from 1.0176.
EURUSD Analysis.
EURUSD’s rise from 1.2042 extends to as high as 1.2389. Further rise could be expected in a couple of days, and next target would be at 1.2500 area. Support is at 1.2240, only break below this level could indicate that correction of the uptrend from 1.2042 is underway, then pullback to 1.2170 area could be seen.
USDCAD Analysis.
USDCAD’s downward movement from 1.0230 extends to as low as 1.0030. Further decline could be expected over the next several days, and next target would be at 1.0000 area. Resistance is at 1.0110, as long as this level holds, the downtrend will continue.
USDCHF Analysis.
USDCHF’s downward movement from 0.9971 extends to as low as 0.9695. Deeper decline could be seen in a couple of days, and next target would be at 0.9600 area. Resistance is at 0.9810, as long as this level holds, the downtrend will continue.
USDJPY Analysis.
USDJPY remains in downtrend from 80.09, the price action from 77.94 is treated as consolidation of the downtrend. Another fall to test 77.66 (Jun 1 low) support could be expected after consolidation.
GBPUSD Analysis.
GBPUSD breaks above 1.5735 resistance and reaches as high as 1.5767. Further rise could be expected over the next several days, and next target would be at 1.5800 area. Support is at 1.5665, as long as this level holds, the uptrend from 1.5458 will continue.
