AUDUSD Analysis.
AUDUSD’s upward movement from 0.9037 extends to as high as 0.9297. Further rise to test 0.9344 resistance is still possible, as long as this level holds, the rise could be treated as consolidation of the downtrend from 1.0582 (Apr 11 high), another fall towards 0.8500 is still possible after consolidation. On the upside, a break above 0.9344 key resistance will suggest that the downtrend from 1.0582 had completed at 0.9037 already, then the following upward movement could bring price back to 0.9800 zone.
USDCAD Analysis.
USDCAD breaks below the upward trend line on 4-hour chart, and the fall from 1.0608 extends to as low as 1.0376, suggesting that the upward movement from 1.0137 had completed at 1.0608 already. Further decline could be expected and next target would be at 1.0300 area. Resistance is at 1.0470, as long as this level holds, the downtrend from 1.0608 will continue.
USDCHF Analysis.
USDCHF breaks below the support of the upward trend line on 4-hour chart, suggesting that the uptrend from 0.9130 had completed at 0.9751 already, and the pair is now in downtrend from 0.9751. Further decline could be expected, and next target would be at 0.9300 area. Resistance is at 0.9600, as long as this level holds, the downtrend will continue.
USDJPY Analysis.
USDJPY breaks below the support of the upward trend line on 4-hour chart, suggesting that the upward movement from 93.79 had completed at 101.53 already, and the pair is now in downtrend. Further decline could be expected over the next several days, and the target would be at 95.00 area. Resistance is at 100.00, as long as this level holds, the downtrend from 101.53 will continue.
EURUSD Analysis.
EURUSD breaks above the resistance of the downward trend line on 4-hour chart, suggesting that the downward movement from 1.3415 had completed at 1.2756 already. The pair is now in uptrend, further rise could be expected over the next several days, and the target would be at 1.3500 area. Support is at 1.2960, as long as this level holds, the uptrend will continue.
GBPUSD Analysis.
GBPUSD breaks above 1.4980 resistance and reaches as high as 1.5192, suggesting that the downward movement from 1.5751 had completed at 1.4813 already. Further rise could be expected over the next several days, and the target would be at 1.5500 area. Support is at 1.5000, as long as this level holds, the downtrend will continue.
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