EURUSD Analysis.
EURUSD is facing the support of the upward trend line from 1.2042 to 1.2134 again, rebound could be expected after touching the trend line, and another rise to test 1.2442 would likely be seen. On the downside, a clear break below the trend line will indicate that that rise from 1.2042 has completed at 1.2442 already, and the longer term downtrend from 1.3486 (Feb 24 high) has resumed, then the following downward movement could bring price to 1.1700 area.
USDCHF Analysis.
USDCHF is testing the resistance of the downward trend line on 4-hour chart. As long as the trend line resistance holds, downtrend could be expected to resume, and another fall to 0.9500 area is still possible. On the upside, a clear break above the trend line will indicate that the fall from 0.9971 has completed at 0.9656 already, then another rise towards 1.0200 could be seen.
GBPUSD Analysis.
GBPUSD continues its sideways movement in a range between 1.5458 and 1.5767. Lengthier consolidation in the range would likely be seen over the next several days. Key resistance is at 1.5767, a break above this level will target 1.5900 area. Key support is at 1.5458, a breakdown below this level could trigger another fall towards 1.5000.
USDJPY Analysis.
USDJPY breaks above 79.15 key resistance, suggesting that the downtrend from 80.62 has completed at 77.92 already. Further rise could be seen over the next several days, and next target would be at 79.50 area. Support is at 78.60, only break below this level could bring price back towards 77.92 previous low.
USDCAD Analysis.
After a minor consolidation, USDCAD continues its downward movement from 1.0083, and the fall extends to as low as 0.9882. Further decline is still possible in a couple of days, and next target would be at 0.9850 area. Key resistance is at 0.9970, only break above this level could signal completion of the downtrend.
AUDUSD Analysis.
AUDUSD’s fall from 1.0612 extends to as low as 1.0455. Another fall 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. However, as long as 1.0435 level holds, uptrend could be expected to resume, and one more rise towards 1.0700 is still possible.
