USDCAD Analysis.
USDCAD failed to break above 1.0341 resistance and stays in a trading range between 1.0216 and 1.0341. Key support is at 1.0216, as long as this level holds, the price action in the range could be treated as consolidation of the uptrend from 0.9932, and another rise to 1.0400 is still possible after consolidation. On the downside, a breakdown below 1.0216 will indicate that lengthier consolidation of the longer term uptrend from 0.9815 (Jan 11 low) is underway, then the pair will find support around 1.0150.
EURUSD Analysis.
EURUSD breaks above the upper line of the price channel on 4-hour chart, suggesting that a cycle bottom has been formed at 1.2965 on 4-hour chart. Further rise to test 1.3180 key resistance could be expected, a break above this level will confirm that the downtrend from 1.3711 has completed, then another rise towards 1.4000 could be seen. Support is now at 1.2965, only break below this level could trigger another fall to 1.2800 zone.
AUDUSD Analysis.
AUDUSD is facing the resistance of the upper line of the price channel on 4-hour chart, a clear break above the channel resistance will indicate that the downtrend from 1.0597 had completed at 1.0115 already, then further rise to 1.0500 area could be seen. Support levels are at 1.0200 and 1.0160.
USDCHF Analysis.
USDCHF stays in a trading range between 0.9393 and 0.9489. Key support is at the upward trend line on 4-hour chart, as long as the trend line support holds, the price action in the range is treated as consolidation of the uptrend from 0.9021, and another rise to 0.9600 area is still possible, only a clear break below the trend line support could signal completion of the uptrend.
USDJPY Analysis.
After consolidation, USDJPY breaks above 94.54 resistance and continues its upward movement from 77.14, and the rise extends to as high as 95.09. Further rise is still possible, and next target would be at 96.00 area. Support levels are at 92.70 and 90.93.
GBPUSD Analysis.
GBPUSD’s downward movement from 1.5878 extends to as low as 1.4965. Further decline is still possible and next target would be at 1.4900 area. Resistance is at 1.5225, only break above this level could signal completion of the downtrend.
