AUDUSD Analysis.
AUDUSD stays above the rising trend line on 4-hour chart and remains in short term uptrend from 0.7789. As long as the trend line support holds, we’d expect uptrend to continue and further rally is possible to 1.8200 zone in a couple of days. However, a clear break below the trend line support will indicate that the rise from 0.7789 has completed and the follow pullback will take price to 0.7850-0.7900 area.
USDCAD Analysis.
USDCAD breaks above 1.1636 resistance, suggesting that the uptrend from 1.0940 has resumed. Further rally is now in favor and the next target is at 1.1700 level. Initial support is at the lower border of the rising price channel on 4-hour chart and key support is 1.1418, below this level will indicate that the uptrend from 1.0940 has completed.
USDJPY Analysis.
USDJPY is testing 96.56 resistance, a break above this level will indicate that the short term downtrend from 98.88 has completed at 94.87 level already, then further rally could be seen to test 97.18 resistance. However, as long as 96.56 resistance holds, the price action from 94.87 is treated as consolidation of downtrend and one more decline to 93.53 key support is possible.
GBPUSD Analysis.
After breaking above 1.6662 previous high resistance, GBPUSD drops sharply from 1.6743 level. Deeper decline would more likely be seen later today, and target would be at 1.6250-1.6300 area. Key resistance is at 1.6743, only rise above this level will signal further rally to 1.1700 zone.
EURUSD Analysis.
After breaking above 1.4138 resistance, EURUSD pulls back from 1.4151 level. As long as 1.3983 support holds, we’d expect the short term uptrend from 1.3748 to continue and further rally to 1.4200-1.4250 area is possible. However, below 1.3983 level will suggesting deeper decline to re-test 1.3889 key support.
USDCHF Analysis.
USDCHF’s fall from 1.1021 extends to as low as 1.0778, the following rebound suggests further rally to 1.0950 zone, however a break above 1.0911 resistance is needed to confirm such case. Near term support is at 1.0778, only fall below this level will signal deeper decline to 1.0700-1.0750 area.
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