EURUSD Analysis.
EURUSD bounces strongly to as high as 1.3279, and is now facing 1.3308 previous high resistance, a break above this level will signal resumption of the longer term uptrend from 1.2661, then next target would be at 1.3400 area. Support is at 1.3170, only break above this level will indicate that sideways consolidation in a range between 1.2998 and 1.3308 is underway, then deeper decline to 1.3050 area could be seen.
USDJPY Analysis.
USDJPY breaks above 88.40 resistance and continues its upward movement from 82.11, and the rise extends to as high as 89.34. Further rise could be expected and next target would be at 90.00 area. Support remains at the lower line of the price channel on 4-hour chart, only a clear break below the channel support could signal completion of the uptrend.
AUDUSD Analysis.
AUDUSD’s upward movement from 1.0344 extends to as high as 1.0597. Further rise could be expected after a minor consolidation and next target would be at 1.0650 area. Support levels are at 1.0550 and 1.0525, as long as these levels hold, the uptrend will continue.
USDCAD Analysis.
USDCAD breaks below 0.9836 support, suggesting that the downtrend from 1.0055 has resumed. Further decline could be expected and next target would be at 0.9800 area. Resistance is at 0.9885, only break above this level could bring price back to 0.9950 zone.
GBPUSD Analysis.
GBPUSD breaks above 1.6150 resistance and reaches as high as 1.6176, suggesting that a cycle bottom has been formed at 1.5993 on 4-hour chart, and the downtrend from 1.6339 has completed. Further rise could be expected and next target would be at 1.6250 area.
USDCHF Analysis.
USDCHF’s downward movement from 0.9302 extends to as low as 0.9128. Further decline could be seen, and next target would be at 0.9100 area. Resistance is at 0.9200, only break above this level could indicate that lengthier consolidation of the downtrend from 0.9511 is underway, then further rise to 0.9250 area could be expected.
