GBPUSD Analysis.
GBPUSD continues its upward movement from 1.5490, and the rise extends to as high as 1.6033. Further rise could be expected after a minor consolidation, and next target would be at 1.6100 area. Key support remains at the upward trend line on 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.
USDCHF Analysis.
USDCHF breaks below 0.9503 support, and reaches as low as 0.9429, suggesting that the downtrend from 0.9809 has resumed. Further decline could be expected after a minor consolidation, and next target would be at 0.9350 area. Resistance is at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend will continue.
AUDUSD Analysis.
AUDUSD breaks above the downward price channel on 4-hour chart, and is now in uptrend from 1.0167. Further rise could be expected, and next target would be at 1.0450 area. Support is at 1.0330, below this level will suggest that a cycle top is being formed, and consolidation of the uptrend is underway, then pullback to 1.0250 area could be seen.
EURUSD Analysis.
EURUSD’s upward movement from 1.2241 extends to as high as 1.2816. Further rise could be expected after a minor consolidation, and next target would be at 1.2900 area. Key support is at the upward trend line on 4-hour chart, as long as the trend line support holds, uptrend will continue.
USDCAD Analysis.
USDCAD’s downward movement from 1.0445 extends to as low as 0.9765. Further decline could be expected after a minor consolidation, and next target would be at 0.9700 area. Resistance levels are at 0.9820 and 0.9855, as long as these levels hold, the downtrend will continue.
USDJPY Analysis.
USDJPY is facing 77.92 support again, a breakdown below this level will target 76.00 area. However, as long as 77.92 level holds, lengthier sideways movement could be expected to continue, and another rise to 78.70 area is possible.
