EURUSD Analysis.
EURUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.2042, the price action from 1.2389 is treated as consolidation of the uptrend. Another rise to test 1.2442 resistance could be expected, a break above this level will target 1.2600 area. Key support is at the trend line, only a clear break below the trend line could indicate that the longer term downtrend from 1.3486 (Feb 24 high) has resumed, then further decline towards 1.1700 could be seen.
USDCHF Analysis.
USDCHF stays below a downward trend line on 4-hour chart, and remains in downtrend from 0.9971. Another fall towards 0.9500 would likely be seen. Key resistance is at the trend line, only a clear break above the trend line could signal completion of the downtrend.
GBPUSD Analysis.
GBPUSD stays in a trading range between 1.5458 and 1.5767. Another rise to test 1.5767 resistance could be expected, 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 breaks above 78.78 resistance and reaches as high as 78.93, suggesting that lengthier consolidation of the downtrend from 80.62 (Jun 25 high) is underway. Key resistance is at 79.15, as long as this level holds, downtrend could be expected to resume, and another fall towards 77.00 is still possible, only break above 79.,15 could signal completion of the downtrend.
USDCAD Analysis.
USDCAD remains in downtrend from 1.0083. Another fall could be expected after a minor consolidation, and next target would be at 0.9850 area. Resistance is now located at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, downtrend will continue.
AUDUSD Analysis.
AUDUSD’s fall from 1.0612 extends to as low as 1.0464. Deeper decline to test 1.0435 key support would likely be seen, a breakdown below this level will indicate that the uptrend from 1.0176 has completed, then further fall to 1.0300-1.0400 area could be expected. On the upside, as long as 1.0435 level holds, uptrend could be expected to resume, and one more rise towards 1.0700 is still possible.
