EURUSD Analysis.
EURUSD stays above the upward trend line from 1.2042 to 1.2134, and remains in uptrend, the price action from 1.2389 is treated as consolidation of the uptrend. Another rise towards 1.2600 is still possible after consolidation, and a break above 1.2442 could signal resumption of the uptrend. On the downside, a clear break below the trend line support will indicate that the rise from 1.2042 has completed, and the longer term downtrend from 1.3486 (Feb 24 high) has resumed, then further decline towards 1.1700 could be seen.
USDCHF Analysis.
USDCHF’s rise from 0.9656 extends to as high as 0.9789. Further rise to test the resistance of the downward trend line on 4-hour chart could be expected. As long as the trend line resistance holds, the price action from 0.9695 is treated as consolidation of the downtrend from 0.9971, another fall to 0.9500 area is possible. On the upside, a clear break above the trend line will indicate that the longer term uptrend from 0.8931 (Feb 24 low) has resumed, then further rise to 1.0200 area could be seen.
GBPUSD Analysis.
GBPUSD stays in a trading range between 1.5458 and 1.5767. Further rise to test 1.5767 resistance is possible, a break above this level will target 1.5900 area. Key support is at 1.5458, only break below this level could trigger another fall towards 1.5000.
USDJPY Analysis.
USDJPY’s rise from 77.94 extends to as high as 78.78. Key resistance is at 79.15, as long as this level holds, the rise is treated as consolidation of the downtrend from 80.62 (Jun 25 high), another fall towards 77.00 is still possible after consolidation, only break above 79.15 could signal completion of the downtrend.
USDCAD Analysis.
USDCAD continues its downward movement from 1.0083, and the fall extends to as low as 0.9909. Further decline is still possible after a minor consolidation, and next target would be at 0.9850 area. Resistance is at 0.9950, only break above this level could signal completion of the downtrend.
AUDUSD Analysis.
AUDUSD’s upward move extends to as high as 1.0612. Further rise could be expected after a minor consolidation, and next target would be at 1.0650 area. Support levels are at 1.0500 and 1.0435, only break below these levels could signal completion of the uptrend.
