EURUSD Analysis.
EURUSD is facing the resistance of the downward trend line on 4-hour chart, a clear break above the trend line will suggest that the downtrend from 1.3832 had completed at 1.3296 already, then the following upward movement could bring price back to 1.3700 area. On the downside, as long as the trend line resistance holds, the downtrend from 1.3832 could be expected to resume, and one more fall towards 1.3100 is still possible.
USDJPY Analysis.
USDJPY breaks above 99.41 resistance, suggesting that the uptrend from 96.94 has resumed. Further rise could be expected, and next target would be at 100.00 area. Support is now at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend will continue.
GBPUSD Analysis.
GBPUSD continues its sideways movement in a trading range between 1.5894 and 1.6259. Key support is at 1.5894, as long as this level holds, the price action in the range could be treated as consolidation of the uptrend from 1.4813 (Jul 9 low), one more rise towards 1.6500 is still possible after consolidation. However, a breakdown below 1.5894 support will indicate that the uptrend from 1.4813 had completed at 1.6259 already, then the following downward movement could bring price to 1.4500 zone.
AUDUSD Analysis.
AUDUSD’s downward movement from 09756 extends to as low as 0.9332. Resistance is now located 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 0.9250 area.
USDCHF Analysis.
USDCHF is facing the support of the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend from 0.8890 could be expected to resume, and one more rise towards 0.9500 is still possible. On the downside, a clear break below the trend line support will indicate that the uptrend from 0.8890 had completed at 0.9249 already, then the following downward movement could bring price back to 0.8500 zone.
USDCAD Analysis.
After touching 1.0496 resistance, USDCAD pulls back from 1.0503, suggesting that lengthier consolidation of the uptrend from 1.0182 (Sep 19 low) is underway is underway. Pullback to the lower line of the price channel on 4-hour chart to complete the consolidation would likely be seen over the next several days. Resistance is at 1.0503, only break above this level could trigger another rise towards 1.0600.
