USDCHF Analysis.
USDCHF is forming a sideways consolidation in a range between 0.9421 and 0.9769. Lengthier consolidation in the range would likely be seen over the next several days. Key support is at 0.9463, a breakdown below this level will signal completion of the uptrend 0.8931 (Feb 24 low), then deeper decline towards 0.9100-0.9200 area could be seen. Key resistance is at 0.9678, above this level will suggest that the uptrend from 0.8931 has resumed, then next target would be at 1.0000.
GBPUSD Analysis.
GBPUSD failed to break above 1.5776 resistance and pulled back from 1.5721, suggesting that a cycle top had been formed on 4-hour chart. Further decline to test 1.5484 support would likely be seen, a breakdown below this level will target 1.5400 area. Resistance is now at 1.5721, only break above this level could trigger another rise towards 1.6000.
USDJPY Analysis.
USDJPY’s rise from 79.14 extends to as high as 80.08. Further rise to test 80.62 resistance is still possible in a couple of days. Initial support is at the lower line of the price channel, and the key support is at 79.14, only break below this level could bring price back to 78.00 area.
EURUSD Analysis.
EURUSD stays in a trading range between 1.2407 and 1.2747. Lengthier sideways movement in the range could be expected in a couple of days. Key support is at 1.2407, a breakdown below this level will indicate that the downtrend from 1.3486 (Feb 24 high) has resumed, then the following downward movement could bring price to 1.2000 area. Key resistance is at 1.2692, a break above this level will target 1.3000 zone.
AUDUSD Analysis.
AUDUSD may be forming a cycle top at 1.0317 on 4-hour chart. Range trading between 1.0180 and 1.0317 would likely be seen in a couple of days. However, the fall from 1.0317 is treated as consolidation of the uptrend from 0.9581, and one more rise towards 1.0500 is still possible after consolidation.
USDCAD Analysis.
USDCAD remains in downtrend from 1.0361. Further decline would likely be seen after a minor consolidation, and next target would be at 1.0000 area. Resistance is at 1.0150 followed by 1.0200, as long as these levels hold, downtrend will continue.
