USDCAD Analysis.
USDCAD’s upward movement from 1.0137 extends to as high as 1.0393. Further rise to test 1.0420 previous high resistance could be expected, and a break above this level will indicate that the long term uptrend from 0.9632 (Sep 14, 2012 low) has resumed, then next target would be at 1.0600 area. Initial support is at 1.0330, only break below this level will suggest that consolidation of the uptrend from 1.0137 is underway, then the pair will find support around 1.0280.
USDCHF Analysis.
USDCHF is forming a sideways movement in a range between 0.9130 and 0.9361. The price action in the range is likely consolidation of the downtrend from 0.9838. The sideways movement could be expected to continue in a couple of days. Key resistance is located at 0.9400, as long as this level holds, the downtrend could be expected to resume, and one more fall to 0.9000 would likely be seen after consolidation.
EURUSD Analysis.
EURUSD’s downward movement from 1.3415 extends to as low as 1.3161. Further decline is still possible after a minor consolidation, and next target would be at 1.3100 area. Resistance is at 1.3300, only break above this level will suggest that the fall from 1.3415 had completed, then the following upward movement could bring price to test 1.3415 resistance.
AUDUSD Analysis.
AUDUSD has reaches the lower line of the price channel on 4-hour chart. Minor consolidation of the downtrend from 0.9664 would likely be seen, and the trading range would be between 0.9160 and 0.9300. Key resistance is located at the upper line of the channel, only a clear break above the channel resistance will indicate that the whole downtrend from 1.0582 (Apr 11 high) is complete.
GBPUSD Analysis.
GBPUSD’s downward movement from 1.5751 extends to as low as 1.5415. Further decline is still possible after a minor consolidation, and next target would be at 1.5350 area. Resistance is at 1.5570, only break above this level could trigger another rise to test 1.5751 previous high resistance.
USDJPY Analysis.
USDJPY continues its upward movement from 93.79, and the rise extends to as high as 98.28. Further rise is still possible, and next target would be at 99.00 area. Support is at 96.00, only break below this level could trigger another fall to 92.00 zone.
