EURUSD Analysis.
EURUSD is in correction of the uptrend from 1.2042. Pullback to 1.2170 area to complete the correction is expected. Resistance is at 1.2389, a break above this level could signal resumption of the uptrend, and the target would be at 1.2500-1.2600 area. Key support is at 1.2042, only break below this level could indicate that the longer term downtrend from 1.3486 (Feb 24 high) has resumed, then further decline towards 1.1500 could be seen.
USDCAD Analysis.
USDCAD remains in downtrend from 1.0230, and the fall extends to as low as 1.0002. Further decline would likely be seen after a minor consolidation, and next target would be at 0.9950 area. Resistance is at 1.0055, only break above this level could indicate that a cycle bottom is being formed on 4-hour chart, then lengthier consolidation of the downtrend could be seen.
AUDUSD Analysis.
After touching the upper border of the price channel on 4-hour chart, AUDUSD pulls back from 1.0537, suggesting that a cycle top is being formed. Range trading between 1.0400 and 1.0537 is expected in a couple of days. However, the fall from 1.0537 would possibly be consolidation of the uptrend from 1.0176, another rise towards 1.0700 is still possible after consolidation.
USDCHF Analysis.
USDCHF is in correction of the downtrend from 0.9971. Further rise to 0.9870 area to complete to correction would likely be seen. Support is at 0.9695, a breakdown below this level will signal resumption of the downtrend, and the target would be at 0.9500-0.9600 area. Key resistance is at 0.9971, only break above this level could trigger another rise towards 1.0100.
USDJPY Analysis.
USDJPY breaks below 77.94 support, suggesting that the downtrend from 80.09 has resumed. Further decline could be expected and next target would be at 77.50 area. Key resistance is now at 78.67, only break above this level could signal completion of the downtrend.
GBPUSD Analysis.
GBPUSD remains in uptrend from 1.5458, the fall from 1.5767 is treated as correction of the uptrend. Another rise could be expected after correction, and next target would be at 1.5850 area. Support is at 1.5600, only break below this level could signal completion of the uptrend.
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