USDCAD Analysis.
USDCAD broke below 1.0215 support and reached 1.0191 only, the subsequent bounce had bring price above 1.0349 key resistance, suggesting that a cycle bottom had been formed on 4-hour chart, and the fall from 1.0672 had completed. Further rally is now in favor and target would be at 1.0600 area. Key support is now at 1.0191, only break below this level could indicate that the downtrend from 1.0672 has resumed, then deeper decline could be seen to 1.0150 zone.
GBPUSD Analysis.
GBPUSD stays in a rising price channel and remains in uptrend from 1.5296. Another rise to 1.5800-1.5850 area is still possible in a couple of days. Support is at the lower border of the channel, as long as the channel support holds, uptrend is expected to continue. Key support is at 1.5503, only break below this level will indicate that the rise from 1.5296 has completed at 1.5728 already, then the following downward move could bring price back to re-test 1.5296 previous low support.
USDCHF Analysis.
USDCHF broke below 0.9932 support and reached the lower boundary of the falling price channel on 4-hour chart, minor consolidation would more likely be seen later today. However, deeper decline is expected after consolidation and next target would be at 0.9700 area.
AUDUSD Analysis.
AUDUSD continues its bullish movement from 0.8771 and the rise extended to as high as 0.9599 level. Further rise is still possible in a couple of days and next target would be at 0.9700-0.9750 area. Support is at the lower border of the price channel on 4-hour chart, as long as the channel support holds, uptrend could be expected to continue.
EURUSD Analysis.
EURUSD broke above 1.3333 previous high resistance, suggesting that the longer term uptrend from 1.1876 has resumed. Further rise is still possible after a minor consolidation and next target would be at 1.3600 area. Support is at 1.3290 followed by 1.3250, as long as these levels hold, uptrend will continue.
USDJPY Analysis.
USDJPY’s fall from 85.92 extended to as low as 84.27 level. Deeper decline is still possible in a couple of days. However, the fall is more likely correction of uptrend from 82.87, as long as this level holds, another rise to test 85.92 key resistance is still possible.
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