AUDUSD Analysis.
AUDUSD is testing 0.9290 support, a break of this level will signal the resumption of the down trend and deeper decline to 0.9000 area is expected to follow. Key resistance is at 0.9541, only rise above this level will indicate that the up trend from 0.8953 (Mar 20 low) is underway, and further rally towards 0.9600 could be seen.
EURUSD Analysis.
EURUSD’s down trend remains and extends further to as low as 1.5429. Deeper decline to 1.5342 (Mar 24 low) support is still possible. Key resistance is now located at 1.5643, only break of this level will signal reversal to the down trend.
USDCHF Analysis.
USDCHF’s up trend extends to as high as 1.0507 level. Further rise to 1.0600 area to reach the next short term cycle top is still possible in the next few days. Key support is at 1.0298, only break of this level will signal reversal to the up trend.
USDCAD Analysis.
USDCAD formed a short term cycle bottom at 1.0036 level on 4-hour chart. Further rally to retest 1.0326 (Apr 1 high) key resistance is expected, and a break of this level will signal resumption of the long term up trend.
GBPUSD Analysis.
GBPUSD traded in range between 1.9599 and 2.0029 for 2 weeks. Break above this range to reach the next short term cycle top on 4-hour chart is now in favor. Initial support is located at 1.9599, a break of this level will turn price back to 1.9400 area.
USDJPY Analysis.
USDJPY is in consolidation to the up trend. As long as 102.67 support holds, we’d expect up trend to resume, and rise to 107.00 area to reach the next short term cycle top is still in favor. Near term support is at the long term up trend line from 95.77 to 100.30 and followed by 102.67.
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