USDCAD Analysis.
USDCAD broke above the downward trend line on 4-hour chart last Friday, suggesting that consolidation of the downtrend from 1.0568 is underway. Range trading between 1.0182 and 1.0350 would likely be seen in a couple of days. Resistance is now at 1.0350, as long as this level holds, the downtrend could be expected to resume, and another fall towards 1.0000 is still possible after consolidation. On the upside, a break above 1.0350 will suggest that the downward movement from 1.0568 had completed at 1.0182 already, then the following upward movement could bring price back to 1.0750 zone.
USDCHF Analysis.
USDCHF remains in downtrend from 0.9455. Key resistance is 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 0.9000 area, only a clear break above the trend line resistance could signal completion of the downtrend.
USDJPY Analysis.
USDJPY is in downtrend from 100.60, the rise from 97.76 is likely correction of the downtrend. Key resistance is at 100.60, as long as this level holds, the downtrend could be expected to resume, and one more fall towards 95.00 is still possible. Only a break above 100.60 resistance will suggest that the uptrend from 95.81 has resumed, then further rise to test 103.73 (May 22 high) resistance could be seen.
EURUSD Analysis.
EURUSD remains in uptrend from 1.3105. Key support is located at the upward 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 1.3650 area, only a clear break below the trend line support could signal completion of the uptrend.
AUDUSD Analysis.
AUDUSD broke below the upward trend line on 4-hour chart last Friday, suggesting that consolidation of the uptrend from 0.8892 is underway. Range trading between 0.9300 and 0.9526 could be expected in a couple of days. As long as 0.9300 support holds, the uptrend could be expected to resume after consolidation, and one more rise towards 1.0000 is still possible.
GBPUSD Analysis.
GBPUSD is facing the support of the upward trend line on 4-hour chart. As long as the trend line support holds, the uptrend from 1.5429 could be expected to resume, and one more rise towards 1.6500 is still possible. On the downside, a clear break below the trend line support will indicate that consolidation of the uptrend is underway, then range trading between 1.5900 and 1.6162 could be seen.
