GBPUSD Analysis.
GBPUSD remains in uptrend from 1.5753, the fall from 1.6272 is treated as consolidation of the uptrend. Range trading between 1.6100 and 1.6272 would likely be seen in a couple of days. Support is at 1.6100, as long as this level holds, we’d expect uptrend to resume, and another rise towards 1.6500 is still possible after consolidation. Resistance is at 1.6272, a break above this level could signal resumption of the uptrend.
USDCHF Analysis.
USDCHF had formed a cycle bottom at 0.9239 on 4-hour chart. Range trading between 0.9239 and 0.9400 could be expected in a couple of days. Resistance is now at 0.9400, as long as this level holds, the rise from 0.9239 is treated as consolidation of the downtrend from 0.9607, and another fall towards 0.9000 is possible after consolidation.
EURUSD Analysis.
EURUSD’s fall from 1.3171 extends to as low as 1.2920. Further decline is still possible and next target would be at 1.2850 area. However, the fall is likely consolidation of the uptrend from 1.2241, the uptrend could be expected to resume after consolidation, and a break above 1.3171 previous high could signal resumption of the uptrend.
AUDUSD Analysis.
AUDUSD’s downward movement from 1.0624 extends to as low as 1.0367. Further decline could be expected after consolidation, and next target would be at 1.0300 area. Resistance is now at 1.0500, only break above this level could signal completion of the downtrend.
USDCAD Analysis.
USDCAD may be forming a cycle top at 0.9816 on 4-hour chart. Support is at 0.9630, a breakdown below this level will indicate that the rise from 0.9632 has completed, then further decline to test 0.9632 previous low support could be seen. Resistance is at 0.9816, only break above this level could trigger another rise to 0.9900 area.
USDJPY Analysis.
USDJPY’s fall from 79.21 extends to as low as 78.01. Further decline is still possible and next target would be at 77.75 area. However, the fall would possibly be correction of the uptrend from 77.14, another rise could be expected after consolidation.
