USDCAD Analysis.
USDCAD continues its downward movement from 1.0230, and the fall extends to as low as 1.0003. Further decline could be expected over the next several days, and next target would be at 0.9950 area. Resistance is now at 1.0050, only break above this level could indicate that a cycle bottom is being formed on 4-hour chart, then consolidation of the downtrend could be seen.
AUDUSD Analysis.
AUDUSD has reached the upper border of the price channel on 4-hour chart. Consolidation of the uptrend from 1.0176 would likely be seen in a couple of days, and and the trading range would be between 1.0400 and 1.0540.
EURUSD Analysis.
EURUSD remains in uptrend from 1.2042, the fall from 1.2389 is treated as correction of the uptrend. Another rise could be expected after correction, and next target would be at 1.2500-1.2600 area. Initial support is at 1.2170, and the key support is at 1.2042, only break below these levels could signal resumption of the longer term downtrend from 1.3486 (Feb 24 high).
USDCHF Analysis.
USDCHF remains in downtrend from 0.9971, the rise from 0.9695 is treated as correction of the downtrend. Another fall could be expected after correction, and next target would be at 0.9500-0.9600 area. Initial resistance are at 0,.9870, and the key resistance is at 0.9971, only break above these levels could signal resumption of the longer term uptrend from 0.8931 (Feb 24 high).
USDJPY Analysis.
USDJPY remains in downtrend from 80.09, the price action from 77.94 is treated as consolidation of the downtrend. Now the fall from 78.67 is likely resumption of the downtrend. Support is at 77.94, a breakdown below this level could trigger another fall towards 76.00.
GBPUSD Analysis.
GBPUSD remains in uptrend from 1.5458. Another rise could be expected after a minor consolidation, and next target would be at 1.5850 area. Support is at 1.5665, as long as this level holds, the uptrend from 1.5458 will continue.
