AUDUSD Analysis.
AUDUSD traded in a range between 0.9820 and 1.0007 for several days. As long as 0.9820 support holds, the price action in the range is treated as consolidation of the uptrend from 0.9581, and further rise to 1.0100 could be expected after consolidation. On the other side, a breakdown below 0.9820 will suggest that lengthier consolidation of the uptrend is underway, then deeper decline to 0.9700 area could be seen.
EURUSD Analysis.
EURUSD moves sideways in a range between 1.2288 and 1.2668. Key resistance is at 1.2670, as long as this level holds, the price action in the range is treated as consolidation of the downtrend from 1.3283, and another fall towards 1.2000 is possible after consolidation. Only break above 1.2670 will indicate that the downtrend from 1.3283 has completed at 1.2288 already, then further rise to test 1.2823 resistance could be seen.
USDCHF Analysis.
USDCHF remains in downtrend from 0.9769, the rise from 0.9478 is treated as correction of the downtrend. Another fall could be expected after correction, and the target would be at 0.9200 area. Key resistance is at 0.9769, only break above this level could trigger another rise towards 1.0000.
USDCAD Analysis.
No changed in our view, USDCAD remains in downtrend from 1.0445, the rise from 1.0200 is likely correction of the downtrend. Another fall is still possible after correction, and next target would be at 1.0100 area. Resistance levels are at 1.0325 and 1.0355.
USDJPY Analysis.
USDJPY moves sideways in a narrow range between 79.11 and 79.78. The price action in the range is likely consolidation of the short term uptrend from 77.66. Pullback to 78.00-78.50 area to complete the consolidation is possible. Resistance is at 79.78, only break above this level could trigger another rise to test 80.61 key resistance.
GBPUSD Analysis.
GBPUSD is facing 1.5600 resistance, a break above this level could signal completion of the downtrend from 1.6301, then further rise to 1.5800 could be seen. However, as long as 1.5600 resistance holds, the rise from 1.5268 is treated as consolidation of the downtrend from 1.6301, and another fall towards 1.5000 is still possible.
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