USDCAD Analysis.
USDCAD stays above a upward trend line on 4-hour chart, and remains in uptrend from 0.9824. Support is at the uptrend line, as long as the trend line support holds, the fall from 0.9953 is treated as consolidation of the uptrend, and another rise to 0.9970 is still possible. On the downside, the rise from 0.9824 would possibly be correction of the the longer term downtrend from 1.0055, a clear break below the trend line could signal resumption of the downtrend, then another fall towards 0.9700 could be seen.
GBPUSD Analysis.
GBPUSD’s downward movement from 1.6306 extends to as low as 1.6101. Further decline could be expected after a minor consolidation, and next target would be at 1.6000 area. Resistance is at 1.6210, as long as this level holds, the downtrend will continue.
AUDUSD Analysis.
AUDUSD’s downward movement from 1.0585 extends to as low as 1.0344. Further decline could be expected after a minor consolidation, and next target would be at 1.0300 area. Resistance is at 1.0425, as long as this level holds, the downtrend will continue.
EURUSD Analysis.
EURUSD is now in short term downtrend from 1.3308. Further decline would likely be seen and the target would be at the lower line of the price channel on 4-hour chart. As long as the channel support holds, the fall from 1.3308 is treated as consolidation of the longer term uptrend from 1.2661, and the uptrend could be expected to resume after touching the channel support.
USDJPY Analysis.
USDJPY’s upward movement from 82.11 extends to as high as 85.77. Further rise could be expected after a minor consolidation, and next target would be at 86.00 area. Support is at 84.70, as long as this level holds, the uptrend will continue.
USDCHF Analysis.
USDCHF is now in short term uptrend from 0.9083. Further rise would likely be seen and the target would be at the upper line of the price channel on 4-hour chart. Support is at 0.9087, only break below this level could trigger another fall towards 0.9000.
