USDCHF Analysis.
USDCHF stays in a downward price channel on 4-hour chart, and remains in downtrend from 0.9594, the price action in the range between 0.9114 and 0.9249 is treated as consolidation of downtrend. As long as the channel resistance holds, we’d expect downtrend to resume, and another fall towards 0.8900 is still possible. Key resistance is at 0.9350, only break above this level could signal completion of the downward movement.
EURUSD Analysis.
EURUSD has formed a cycle top at 1.3233 on 4-hour chart. Pullback to 1.2800-1.2900 area would likely be seen in a couple of days. Key resistance is at 1.3233, only break above this level could trigger another rise towards 1.3500.
AUDUSD Analysis.
AUDUSD stays in a upward price channel on 4-hour chart, and remains in uptrend from 1.0145. Further rise is still possible in a couple of days, and next target would be at 1.0800 area. Support is at the lower line of the price channel, as long as the channel support holds, uptrend will continue.
USDJPY Analysis.
USDJPY’s downward move from 78.28 extends to as low as 76.02. Further decline towards 75.57 (Oct 31, 2011 low) is still possible. Key resistance is at 76.75, a break above this level could signal completion of the downtrend.
USDCAD Analysis.
USDCAD remains in downtrend from 1.0318, and the fall extended to as low as 0.9963. Resistance remains in the downward tend line on 4-hour chart, as long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 0.9900.
GBPUSD Analysis.
GBPUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.5236. Further rise is still possible in a couple of days, and next target would be at 1.6000 area. Support is at the trend line, only a clear break below the trend line could signal completion of the uptrend.
