AUDUSD Analysis.
AUDUSD remains in uptrend from 1.0167, and the rise extends to as high as 1.0505. Support is now located at the lower line of the price channel on 4-hour chart, as long as the channel support holds, further rise could be expected after a minor consolidation, and next target would be at 1.0600 area. On the other side, a clear break below the channel support will suggest that lengthier consolidation of the uptrend is underway, then deeper decline to 1.0300 area could be seen.
EURUSD Analysis.
EURUSD’s upward movement from 1.2241 extends to as high as 1.2936. Further rise is still possible after a minor consolidation, and next target would be at 1.3000 area. Support levels are at 1.2815 and 1.2755, and the key support is at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to continue.
GBPUSD Analysis.
GBPUSD continues its upward movement from 1.5490, and the rise extends to as high as 1.6130. Further rise could be seen after a minor consolidation, and next target would be at 1.6200 area. Initial support is at 1.6030, and the key support remains at the upward trend line on 4-hour chart, only a clear break below the trend line could signal completion of the uptrend.
USDCHF Analysis.
USDCHF’s downward movement from 0.9809 extends to as low as 0.9340. Further decline is still possible after a minor consolidation, and next target would be at 0.9340. Initial resistance is at 0.9430, and the key resistance is at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend will continue.
USDCAD Analysis.
USDCAD remains in downtrend from 1.0445. Resistance is at 0.9800, as long as this level holds, another fall could be expected after consolidation, and a breakdown below 0.9713 could signal resumption of the downtrend.
USDJPY Analysis.
USDJPY remains in downtrend from 79.02. Resistance is at 78.20, as long as this level holds, another fall could be expected and next target would be at 77.00 area.
