EURUSD Analysis.
EURUSD breaks above 1.4143 resistance, suggesting that the short term uptrend from 1.3804 has resumed. Further rally to 1.4200-1.4250 area is expected later today, and consolidation is expected before breaking above 1.4338 previous high resistance. Near term support is at the rising trend line on 4-hour chart now at 1.3970, a clear break below the trend line support will take price back to re-test 1.3804 support.
USDCAD Analysis.
Being contained by 1.0928 support, USDCAD moves sideways in a range between 1.0928 and 1.1165. Drop down to test 1.0784 previous low support would more likely be seen later today, and a break below 1.0928 will confirm such case.
GBPUSD Analysis.
GBPUSD’s uptrend from 1.5801extends to 1.6618 level. Further rise to test 1.6662 could be seen later today. A break above this level will indicate that the medium term uptrend from 1.3654 (Mar 11 low) has resumed. Near term support is at 1.6450 followed by 1.6240. Only drop below 1.6240 level will take price back to range trading between 1.5801 and 1.6662.
AUDUSD Analysis.
AUDUSD’s short term uptrend extends to 0.8236 level. Further rally could be seen to test 0.8263 previous high resistance. A break above this level will indicate that the medium term uptrend from 0.6284 has resumed, and then the next target is at 0.8500 zone. Near term support is at 0.8050, only break below this level will take price back to 0.7850-0.7900 area.
USDCHF Analysis.
USDCHF is moving to test 1.0590 previous low support. A break below this level will indicate that the medium term downtrend from 1.1740 has resumed, and deeper decline could be seen to 1.0400 zone. Near term resistance is at the falling trend line on 4-hour chart now at 1.0805, and key resistance is located at 1.0857.
USDJPY Analysis.
USDJPY traded in a range between 97.08 and 98.88 for several days. Pull down to test 97.08 support would more likely be seen later today. A break down below this level will indicate that the downtrend from 98.88 has resumed, and then deeper decline could be seen to 95.00-95.50 area.
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