USDCHF Analysis.
USDCHF’s fall from 0.9769 extends to as low as 0.9540. Deeper decline to test 0.9500 support would likely be seen later today, as long as this level holds, the fall is treated as consolidation of the uptrend from 0.9043, and one more rise towards 1.0000 is still possible after consolidation. However, a breakdown below 0.9500 will indicate that the uptrend from 0.9043 has completed at 0.99759 already, then the following downward movement could bring price back to 0.9200 zone.
AUDUSD Analysis.
AUDUSD breaks above 0.9897 key resistance, suggesting that the downtrend from 1.0474 has competed at 0.9581 already. Further rally is still possible in a couple of days, and next target would be at 1.0000-1.0050 area. Key support is now at 0.9581, only break below this level could trigger another fall to test 0.9390 (Oct 4, 2011 low) support.
EURUSD Analysis.
EURUSD’s rise from 1.2288 extends to as high as 1.2585. Further rally to test 1.2670 key resistance would likely be seen later today, as long as this level holds, the rise is treated as consolidation of the downtrend from 1.3283, and another fall towards 1.2000 is still possible after consolidation. However, a break above 1.2670 will indicate that the fall form 1..3283 has completed at 1.2288 already, the the following upward movement could bring price back to 1.3000 zone.
USDCAD Analysis.
USDCAD breaks below the upward trend line on 4-hour chart, suggesting that the uptrend from 0.9799 has completed at 1.0445 already. Further decline could be expected in a couple of days, and next target would be at 1.0200 area.
USDJPY Analysis.
USDJPY is in consolidation of the downtrend from 84.17 (Mar 15 high). Range trading between 77.66 and 80.00 would likely be seen over the next several days. Key resistance is at 80.61, only break above this level could signal completion of the downtrend.
GBPUSD Analysis.
GBPUSD is in consolidation f the downtrend from 1.6301. Range trading between 1.5268 and 1.5600 would likely be seen over the next several days. Resistance is at 1.5600, only break above this level could signal completion of the downtrend.
