GBPUSD Analysis.
GBPUSD stays above a upward trend line on 4-hour chart, and remains in uptrend. As long as the trend line support holds, uptrend could be expected to continue, and another rise to test 1.5767 resistance is possible, a break above this level will target 1.5900 area. On the other side, a clear break below the trend line will indicate that lengthier sideways movement in the range between 1.5458 and 1.5767 is underway, then deeper decline to test 1.5458 support could be seen.
USDCAD Analysis.
No changed in our view, USDCAD remains in downtrend from 1.0083, and the rise from 0.9859 is likely consolidation of the downtrend. Range trading between 0.9859 and 0.9930 is possible in a couple of days. Support is at 0.9859, a breakdown below this level will signal resumption of the downtrend. Resistance is at 0.9930, only break above this level will indicate that the downtrend has completed at 0.9859 already, then further rally to 1.0000 area could be seen.
EURUSD Analysis.
EURUSD stays above a upward trend line from 1.2042 to 1.2134. As long as the trend line support holds, the fall from 1.2442 is treated as consolidation of the uptrend from 1.2042, and another rise towards 1.2600 is still possible. However, a clear break below the trend line will signal completion of the uptrend, then the following downward move could bring price to 1.1500 area.
USDCHF Analysis.
USDCHF stays below the downward trend line from 0.9971 to 0.9897. As long as the trend line resistance holds, we’d expect downtrend to resume, and another fall towards 0.9500 is still possible. However, a breakdown above the trend line will signal completion of the downtrend from 0.9971, then another rise towards 1.0200 could be seen.
USDJPY Analysis.
USDJPY remains in uptrend from 77.92, the fall from 79.65 is treated as consolidation of the uptrend. Another rise could be expected after consolidation, and next target would be at 80.00 area. Key support is at 79.00, only break below this level could signal completion of the uptrend.
AUDUSD Analysis.
AUDUSD stays within a downward price channel on 4-hour chart, and remains in downtrend from 1.0612. As long as the channel resistance holds, the downtrend could be expected to continue, and another fall to 1.0350 area could be seen. On the upside, a clear break above the channel resistance will indicate that the downtrend has completed, then another rise towards 1.0700 could be expected.
