AUDUSD Analysis.
AUDUSD’s bounce from 0.9134 extended to 0.9325 only and the subsequent fall suggests lengthier consolidation of uptrend from 0.8577 (Feb 5 low) is underway. Sideways movement in a range between 0.9134 and 0.9381 would more likely to continue in a couple of days. Key resistance is now at 0.9337, a break above this level will indicate that the uptrend from 0.8577 has resumed, then another rise to 0.9500 area could be seen.
GBPUSD Analysis.
GBPUSD stays in a trading range between 1.5125 and 1.5522. However, another fall to 1.5000 area is still possible. Key resistance is at 1.5522, only rise above this level could trigger another rally to 1.5700-1.5800 area.
USDCAD Analysis.
USDCAD traded in a range between 0.9930 and 1.0215 fore several days. Further rise to test 1.0215 resistance would more likely be seen later today, above this level will trigger another rally towards 1.0302 key resistance. As long as 1.0302 level holds, we’d expect downtrend to resume and another fall to 0.9800 is still possible.
EURUSD Analysis.
EURUSD remains in downtrend from 1.3691 and the price action from 1.3202 is more likely consolidation of downtrend. As long as 1.3415 resistance holds, another fall towards 1.3000 area is still possible and a breakdown below 1.3114 could signal resumption of downtrend.
USDJPY Analysis.
USDJPY failed to break above 94.68 previous high resistance and pulled back from 94.58. Another fall to 92.50-93.00 area is still possible later today. Key resistance is at 94.68, a break above this level will indicate that the uptrend from 88.14 (Mar 4 low) has resumed, then another rise to 9600 could be seen to follow.
USDCHF Analysis.
USDCHF remains in uptrend from 1.0501 and the price action from 1.0849 is more likely consolidation of uptrend. As long as 1.0699 support holds, another rise to 1.1000 is possible after consolidation and a break above 1.0923 could signal resumption of uptrend.
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