AUDUSD Analysis.
AUDUSD remains in uptrend from 1.0236, the fall from 1.0480 is likely consolidation of the uptrend. Key support is at the upward trend line on 4-hour chart, as long as the trend line support holds, another rise could be expected after consolidation, and next target would be at 1.0550 area, only a clear break below the trend line could signal completion of the uptrend.
GBPUSD Analysis.
GBPUSD is facing 1.5913 support, a breakdown below this level will signal resumption of the downtrend from 1.6309, then deeper decline to 1.2800 area could be expected. On the upside, as long as 1.5913 support holds, the fall from 1.6174 would possibly be correction of the uptrend from 1.5913, and another rise towards 1.6309 is still possible. Resistance is at 1.6050, a break above this level will trigger another rise to test 1.6178 resistance.
USDJPY Analysis.
USDJPY breaks below the lower line of the price channel on 4-hour chart. Deeper decline to test 79.27 support would likely be seen, as long as this level holds, the price action from 80.37 is treated as consolidation of the uptrend from 77.43, and another rise towards 81.00 is still possible.
EURUSD Analysis.
After a minor consolidation, EURUSD continues its downward movement from 1.3138, and the fall extends to as low as 1.2736. Further decline would likely be seen, and next target would be at 1.2650 area. Resistance is now at 1.2875, followed by the downward trend line on 4-hour chart, only a clear break above the trend line could signal completion of the downtrend.
USDCHF Analysis.
USDCHF remains in uptrend from 0.9214 and the rise extends to a high as 0.9471. Further rise could be expected and next target would be at 0.9500 area. Support is at 0.9380, followed by the upward trend line on 4-hour chart, only a clear break below the trend line could signal completion of the uptrend.
USDCAD Analysis.
Being contained by the support of the lower line of the price channel on 4-hour chart, USDCAD rebounds from 0.9874, suggesting that a cycle bottom has been formed, and the fall from 1.0019 has complete. Further rise could be expected, and next target would be at 1.0100 area.
