EURUSD Analysis.
EURUSD remains in uptrend from 1.4157, the price action from 1.4881 is treated as consolidation of uptrend. Deeper decline would likely be seen later today. Support is at the lower border of the price channel on 4-hour chart, and uptrend could be expected to resume after touching the price channel.
USDCAD Analysis.
After touching 1.9453 previous low, USDCAD rebounded from 0.9444, suggesting that lengthier consolidation of downtrend is underway. Range trading between 0.9444 and 0.9575 is expected in a couple of days. Key resistance is at 0.9575, as long as this level holds, downtrend could be expected to resume, and another fall towards 0.9400 is still possible.
USDJPY Analysis.
USDJPY remains in downtrend from 85.51, the price action from 81.26 is treated as consolidation of downtrend. Another rise to 82.50 area to reach next cycle top on 4-hour chart is possible. Key resistance is at 82.76, only break above this level could indicate that the fall from 85.51 is complete.
USDCHF Analysis.
USDCHF stays below a falling trend line on 4-hour chart and remains in downtrend from 0.9339. As long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 0.8500 area.
AUDUSD Analysis.
AUDUSD remains in uptrend from 0.9704, the fall from 1.1011 is treated as consolidation of uptrend. 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 resume, and another rise towards 1.1100 is still possible.
GBPUSD Analysis.
GBPUSD’s fall from 1.6745 extended to as low as 1.6505. Deeper decline towards the lower border of the price channel on 4-hour chart could be seen later today. Uptrend is expected to resume after touching the channel.
