GBPUSD Analysis.
GBPUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.5827, and the rise extends to as high as 1.6062. As long as the trend line support holds, the price action from 1.6055 could be treated as consolidation of the uptrend, and another rise towards 1.6100 is still possible. Key support is at 1.5962, only break below this level will indicate that the rise from 1.5827 is complete, then the following downward movement could bring price back to 1.5800 zone.
USDCAD Analysis.
USDCAD continues its sideways movement in a narrow range between 0.9905 and 0.9960. Key resistance is at 0.9960, as long as this level holds, the price action in the range is treated as consolidation of the downtrend from 1.0055, and another fall to test 0.9874 support could be expected. However, a break above 0.9960 will suggest that the downward move from 1.0055 has completed at 0.9905 already, then the following uptrend could bring price to 1.0100 zone.
AUDUSD Analysis.
AUDUSD breaks below 1.0400 support, suggesting that the uptrend from 1.0287 had completed at 1.0488 already. Further decline could be expected, and the target would be at 1.0350 area. Resistance is at 1.0460, only break above this level could trigger another rise towards 1.0550.
EURUSD Analysis.
EURUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.2661. As long as the trend line support holds, the uptrend could be expected to continue, and further rise to 1.3100 area would likely be seen. On the downside, a clear break below the trend line support will suggest that a cycle top is being formed, and consolidation of the uptrend could be seen to follow.
USDJPY Analysis.
USDJPY stays in a trading range between 81.69 and 82.83. The price action in the range is treated as consolidation of the uptrend from 79.07. Another rise towards 85.00 could be expected after consolidation, and a break above 82.83 could signal resumption of the uptrend.
USDCHF Analysis.
USDCHF stays below a downward trend line on 4-hour chart, and remains in downtrend from 0.9511. As long as the trend line resistance holds, the downtrend could be expected to continue, and further decline to 0.9000 would likely be seen, only a clear break above the trend line resistance could signal consolidation of the downtrend.
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