GBPUSD Analysis.
GBPUSD stays in a rising price channel on 4-hour chart and remains in uptrend from 1.5296. As long as the channel support (now at 1.5660) holds, uptrend is expected to continue and another rise towards the upper border of the channel would more likely be seen. However, a clear break below the channel support will indicate that the rise from 1.5296 has completed, then another fall below 1.5296 previous low could be seen.
USDCAD Analysis.
USDCAD stays in a trading range between 1.0191 and 1.0378. Move sideways without trend in the range would more likely be seen in a couple of days. Key resistance is at 1.0378, a break above this level will indicate that the fall from 1.0672 has completed at 1.0191 already, then the following upward move could bring price to 1.0600 area. However, a breakdown below 1.0191 will indicate that the downtrend from 1.0672 has resumed, then next target would be at 1.0150 area.
AUDUSD Analysis.
AUDUSD continues its upward movement from 0.8771 and the rise extended to as high as 0.9686 level. Support is at the rising trend line on 4-hour chart (now at 0.8566), as long as the trend line support holds, uptrend is expected to continue and next target would be at 0.9750-0.9800 area. Only a clear break below the trend line support could indicate that a cycle top has been formed on 4-hour chart, then pullback to test 0.9462 key support could be seen.
USDCHF Analysis.
USDCHF stays below a falling trend line from 1.0624 to 1.0277, and remains in downtrend. Further decline is expected in a couple of days and next target would be at 0.9700 area. Resistance is at 0.9899 followed by the trend line.
EURUSD Analysis.
EURUSD’s upward move from 1.2643 extended to as high as 1.3595 level. Support is at 1.3381, as long as this level holds, uptrend could be expected to continue and next target would be at 1.3700-1.3750 area. Only a break below 1.3381 could indicate that the rise from 1.2643 is complete.
USDJPY Analysis.
USDJPY is in correction of uptrend from 82.87. Further fall is still possible later today and next target would be at 83.80 area. As long as 82.87 key support holds, uptrend is expected to resume and another rise to test 85.92 key resistance is still possible.
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