EURUSD Analysis.
EURUSD remains in downtrend from 1.3451, the rise from 1.3139 is treated as consolidation of the downtrend. Resistance is now located at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and one more fall towards 1.3000 is still possible. On the upside, a clear break above the channel resistance will suggest that the downtrend from 1.3451 had completed at 1.3139 already, then the following upward movement could bring price to 1.3500 zone.
AUDUSD Analysis.
AUDUSD’s upward movement from 0.8892 extends to as high as 0.9187. Further rise would likely be seen after a minor consolidation, and next target would be at 0.9280 area. Key resistance is at 0.9317, as long as this level holds, the price action from 0.8847 could be treated as consolidation of the downtrend from 1.0582 (Apr 11 high), one more fall towards 0.8500 is still possible after consolidation. On the upside, a break above 0.9317 will indicate that downtrend from 1.0582 had completed at 0.8847 already, then the following upward movement could bring price to 1.0000 zone.
GBPUSD Analysis.
GBPUSD’s upward movement from 1.5429 extends to as high as 1.5646. Further rise to test 1.5717 resistance would likely be seen, a break above this level will signal resumption of the uptrend from 1.4813 (Jul 9 low), then next target would be at 1.6000 area. Key support is at 1.5429, only break below this level could signal completion of the uptrend.
USDCHF Analysis.
USDCHF is testing 0.9396 resistance, as long as this level holds, the rise from 0.9147 could be treated as consolidation of the downtrend from 0.9751 (Jul 9 high), another fall towards 0.9000 is still possible after consolidation. On the upside, a break above 0.9396 resistance will indicate that the downtrend from 0.9751 had completed at 0.9147 already, then further rise to 0.9500 area could be seen.
USDJPY Analysis.
USDJPY remains in uptrend from 96.82. Further rise could be expected after a minor consolidation, and next target would be at 101.00 area. Support is at 98.80, as long as this level holds, the uptrend will continue.
USDCAD Analysis.
USDCAD continues its sideways movement in a range between 1.0471 and 1.0568. As long as 1.0450 support holds, the price action in the range could be treated as consolidation of the uptrend from 1.0275, one more rise to 1.0700 area is still possible, only break below 1.0450 could signal completion of the uptrend.
