EURUSD Analysis.
EURUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.2241. Initial support is at the trend line, as long as the trend line support holds, uptrend could be expected to continue, and further rise to 1.2700 is possible. Key support is at 1.2465, only break below this level will indicate that lengthier consolidation of the longer term uptrend from 1.2042 is underway, then deeper decline to 1.2400 area to complete the consolidation could be seen.
GBPUSD Analysis.
GBPUSD is facing 1.5911 resistance, a break above this level will indicate that the uptrend from 1.5490 has resumed, then further rise towards 1.6000 could be seen. Key support is at 1.5753, only break below this level will indicate that the uptrend has completed at 1.5911 already, then the following downward movement could bring price back to 1.5400-1.5500 area.
AUDUSD Analysis.
AUDUSD continues its downward movement from 1.0543, and the fall extends to as low as 1.0222. Further decline is still possible after a minor consolidation, and next target would be at 1.0150 area. Resistance remains at the downtrend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.
USDCAD Analysis.
USDCAD is facing 0.9842 support, as long as this level holds, the sideways movement is treated as consolidation of the downtrend from 1.0445, and one more rise to 1.0000 area to complete the consolidation is still possible. On the downside, a breakdown below 0.9842 will indicate that the downtrend from 1.0445 has resumed, then further decline towards 0.9600 could be seen.
USDCHF Analysis.
USDCHF stays below a downward trend line on 4-hour chart and remains in downtrend from 0.9809. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 0.9400 area, only a clear break above the trend line resistance could signal completion of the downtrend.
USDJPY Analysis.
USDJPY is in downtrend from 79.65. Further fall to test 79.92 support would likely be seen, a breakdown below this level will target 77.00 area. Resistance levels are at 78.50 and 78.85, only break above these levels could signal completion of the downtrend.
