USDCAD Analysis.
USDCAD is in downtrend from 1.0318, the price action from 0.9926 is treated as consolidation of downtrend. Resistance is now at the upper border of the price channel on 4-hour chart, as long as the channel resistance holds, downtrend could be expected to resume, and one more fall towards 0.9800 is still possible. However, a clear break above the upper line of the channel will indicate that the fall from 1.0318 is complete, then the following upward movement could bring price back to 1.0500 zone.
USDCHF Analysis.
USDCHF is in downtrend from 0.9594. Further fall could be expected in a couple of days, and next target would be at 0.9000 area. Initial resistance is at 0.9150, only break above this level could bring price back to test 0.9262 key resistance.
EURUSD Analysis.
EURUSD remains in uptrend from 1.2624. Further rise could be expected in a couple of days, and next target would be at 1.3400 area. Initial support is located at 1.3215, only break below this level could indicate that lengthier consolidation of uptrend is underway, then another fall to re-test 1.3026 key support could be seen.
AUDUSD Analysis.
AUDUSD is facing the support of the lower line of the price channel on 4-hour chart. As long as the channel support holds, we’d expect uptrend to resume, and one more rise towards 1.0900 is still possible. One the other side, a clear break below the channel will indicate that lengthier consolidation of the uptrend from 1.0145 is underway, then deeper decline to test 1.0671 key support could be seen.
USDJPY Analysis.
USDJPY’s upward movement extends to as high as 77.74. Further rise is still possible after a minor consolidation, and next target would be at 78.00 area. Key support is at 77.10, only break below this level could signal completion of the uptrend.
GBPUSD Analysis.
GBPUSD remains in uptrend from 1.5236, the price action from 1.5882 is treated as consolidation of uptrend. Range trading between 1.5729 and 1.5928 is expected in a couple of days. As long as 1.5729 support holds, we’d expect uptrend to resume, and one more rise towards 1.6000 is still possible.
