AUDUSD Analysis.
AUDUSD’s downward movement from 1.0543 extends to as low as 1.0167. Resistance is now at the upper border of the price channel on 4-hour chart, as long as the trend line resistance holds, another fall could be expected after a minor consolidation, and next target would be at 1.0100 area. On the upside, a clear break above the channel resistance will indicate that lengthier consolidation of the downtrend is underway, then further rally to 1.0300 area could be seen.
EURUSD Analysis.
EURUSD remains in uptrend from 1.2241, the price action in the trading range between 1.2465 and 1.2636 is likely consolidation of the uptrend. Key support is at 1.2465, as long as this level holds, the uptrend could be expected to resume, and another rise towards 1.2700 is possible. However, a breakdown below 1.2465 level will indicate that the uptrend has completed at 1.2636 already, then deeper decline to 1.2400 area could be seen.
GBPUSD Analysis.
GBPUSD breaks above 1.5911 resistance, suggesting that the uptrend from 1.5490 has resumed. Further rise could be expected, and next target would be at 1.6000 area. Initial support is located at the upward trend line on 4-hour chart, as long as the trend line support holds, uptrend will continue.
USDCAD Analysis.
USDCAD moved sideways in a range between 0.9842 and 0.9948 for several days. The price action in the range is treated as consolidation of the downtrend from 1.0445 (Jun 4 high), one more rise to 1.0000 area to complete to consolidation is expected. Key support is at 0.9842, only break below this level could signal resumption of the downtrend.
USDCHF Analysis.
USDCHF remains in downtrend from 0.9809, the price action in the trading range between 0.9503 and 0.9634 is treated as consolidation of the downtrend. Another fall could be expected after consolidation, and next target would be at 0.9400 area. Key resistance is at 0.9634, only break above this level could signal completion of the downtrend.
USDJPY Analysis.
USDJPY is in downtrend from 79.65, the price action from 78.30 is likely consolidation of the downtrend. Further rise towards the upper line of the price channel on 4-hour chart to complete the consolidation could be expected.
