GBPUSD’s downward movement from 1.6176 extends to as low as 1.5756. Initial resistance is located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.5700 area. Key resistance is at 1.5900, only break above this level could signal completion of the downtrend.
EURUSD is facing 1.3403 resistance again, a break above this level will signal resumption of the uptrend from 1.2998, then further rise towards 1.3500 could be seen. Key support is at 1.3256, only break below this level will indicate that lengthier consolidation of the longer term uptrend from 1.2661 (Nov 13, 2012 low) is underway, then deeper decline to 1.3150-1.3200 area is possible.
USDJPY failed to break below 87.79 key support and rebounded from 88.06, and the upward movement from 82.11 extends to as high as 90.68. Further rise is still possible and next target would be at 92.00 area. Support is now at 90.20, as long as this level holds, the uptrend will continue.
USDCAD’s upward movement from 0.9815 extends to as high as 1.0036. Support is located at the trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.0050-1.0100 area.
USDCHF remains in downtrend from 0.9388. Further decline would likely be seen and next target would be at 0.9200 area. Resistance levels are at 0.9350 and 0.9388, only break above these levels could trigger another rise to 0.9450 zone.
AUDUSD breaks below 1.0485 support, suggesting that lengthier consolidation of the uptrend from 1.0149 (Oct 8, 2012 low) is underway. Deeper decline is still possible and the target would be at 1.0400 area. Resistance is at 1.0500, only break above this level could trigger another rise towards 1.0700.