USDJPY Analysis.
USDJPY stays below a falling trend line on 4-hour chart and remains in downward trend from 92.32, the rise from 89.44 is more likely consolidation of downtrend. Another fall towards 88.83 is still possible later today, however, rebound is expected before breaking below 88.83 level. Key resistance is now located at 90.64, a break above this level will indicate that the fall from 92.32 has completed at 89.44 already, then another rise to 94.00 could be seen to follow.
USDCHF Analysis.
USDCHF’s uptrend from 1.0032 extended further to as high as 1.0338. As long as the pair stays in the rising price channel on 4-hour chart, we’d expect uptrend to continue and another rise towards 1.0400 could be seen. Only a clear break below the lower border of the price channel will indicate that the rise from 1.0032 has completed at 1.0338 level already, then the following downtrend could bring price back to re-test 1.0032 previous low support.
USDCAD Analysis.
USDCAD broke below the lower border of the rising price channel on 4-hour chart, suggesting that a short term cycle top is being formed at 1.0852 level. Key support is now located at 1.0627, a break below this level will confirm the cycle top and indicate that the uptrend from 1.0206 has completed at 1.0852 level already, and then another fall towards 1.0206 previous low could be seen to follow.
EURUSD Analysis.
EURUSD broke below 1.4683 support and downtrend from 1.5062 resumed. As long as the pair stays below the falling trend line on 4-hour chart, we’d expect downtrend to continue and next target would be at 1.4550-1.4600 area. However, a clear break above the trend line resistance will suggest completion of downtrend from 1.5062.
GBPUSD Analysis.
Being contained by 1.6251 support, GBPUSD rebounded from 1.6262, taking price back to range trading between 1.6251 and 1.6692. However, another fall towards 1.6000 is still in favor after consolidation and a break below 1.6251 will signal resumption of downtrend.
AUDUSD Analysis.
AUDUSD remains in downtrend from 0.9326. Deeper decline is still in favor in a couple of days and target would be at 0.8700-0.8750 area. Resistance is now located at the falling trend line on 4-hour chart now at 0.9110, only rise above this level will suggesting completion of downtrend.
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