AUDUSD Analysis.
AUDUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.0167. Initial support is at the trend line, as long as the trend line support holds, further rise could be expected after a minor consolidation, and next target would be at 1.0700 area. Key support is at 1.0425, only break below this level could signal completion of the uptrend.
EURUSD Analysis.
EURUSD stays in a upward trend line on 4-hour chart, and remains in uptrend from 1.2241, and the rise extends to as high as 1.3168. Support is at 1.3055 followed by the trend line, as long as the trend line support holds, the uptrend could be expected to continue after a minor consolidation, and next target would be at 1.3250 area.
GBPUSD Analysis.
GBPUSD remains in uptrend from 1.5753. Further rise could be expected, and next target would be at 1.6300 area. Support is at the upward trend line on 4-hour chart, only a clear break below the trend line will indicate that consolidation of the uptrend is underway, then range trading between 1.6050 and 1.6300 could be seen.
USDCHF Analysis.
USDCHF’s downward movement from 0.9607 extends to as low as 0.9239. Further decline could be seen after a minor consolidation, and next target would be at 0.9100 area. Resistance is at the trend line, as long as the trend line resistance holds, the downtrend will continue.
USDCAD Analysis.
USDCAD remains in downtrend from 0.9918, the rise from 0.9632 is treated as consolidation of the downtrend. Another fall could be expected after consolidation, and next target would be at 0.9600 area. Resistance is at 0.9775, as long as this level holds, downtrend will continue.
USDJPY Analysis.
USDJPY bounced strongly from 77.14 last Friday, suggesting that a cycle bottom had been formed on 4-hour chart. Further rise could be expected, and next target would be at 79.00 area. Support levels are at 78.10 and 77.85.
