AUDUSD Analysis.
AUDUSD remains in downtrend from 1.0624, the price action from 1.0181 is treated as consolidation of the downtrend. Range trading between 1.0149 and 1.0280 would likely be seen in a couple of days. Key resistance is at the downward trend line on 4-hour chart, as long as the trend line resistance holds, we’d expect downtrend to resume, and one more fall to 1.0000-1.0100 area to complete the downward movement is possible, only a clear break above the trend line resistance could signal completion of the downtrend.
GBPUSD Analysis.
GBPUSD breaks below 1.6066 support and continues its downward movement from 1.6309. Further decline is still possible after a minor consolidation, and next target would be at 1.5950-1.6000 area. Resistance is at 1.6150 followed by the downwards trend line on 4-hour chart. Only a clear break above the trend line could signal completion of the downtrend.
USDCAD Analysis.
USDCAD is in downtrend from 0.9884. Further decline could be expected after a minor consolidation, and next target would be at 0.9700 area. Key resistance is at 0.9884, only break above this level could trigger another rise towards 1.0000.
USDCHF Analysis.
USDCHF breaks above the downward trend line on 4-hour chart, suggesting that lengthier consolidation of the downtrend from 0.9437 is underway. Another fall could be expected after consolidation, and breakdown below 0.9274 could signal resumption of the downtrend.
EURUSD Analysis.
EURUSD remains in uptrend from 1.2803, the fall from 1.3071 is treated as consolidation of the uptrend. Another rise could be expected after consolidation, and a break above 1.3071 could trigger another rise to test 1.3171 previous high resistance.
USDJPY Analysis.
USDJPY breaks below the upward trend line on 4-hour chart, suggesting that a cycle top has been formed at 78.86. Range trading between 77.80 and 78.86 would likely be seen in a couple of days. However, the fall from 78.86 is likely correction of the uptrend from 77.43, another rise to test 78.86 resistance could be expected after correction.
