EURUSD Analysis.
EURUSD is facing the support of the upward trend line on 4-hour chart, as long as the trend line support holds, we’d expect uptrend to resume, and another rise to 1.2600 area is still possible. On the downside, a clear break below the trend line will indicate that the rise from 1.2134 has completed at 1.2442 already, then the following downward movement could bring price to 1.1700 area.
USDCHF Analysis.
USDCHF is facing the resistance of the downward trend line on 4-hour chart, as long as the trend line resistance holds, downtrend from 0.9971 could be expected to resume, and another fall to 0.9500 area is still possible. However, a clear break above the trend line will indicate that the longer term uptrend from 0.8931 (Feb 24 low) has resumed, then further rise to 1.0200 area could be seen.
GBPUSD Analysis.
GBPUSD moves sideways in a range between 1.5458 and 1.5767. Further rise to test 1.5767 resistance is possible, a break above this level will target 1.5900 area. Key support is at 1.5458, only break below this level could trigger another fall towards 1.5000.
USDJPY Analysis.
USDJPY may be forming a cycle top at 78.78 on 4-hour chart. Further decline to test 77.92 support would likely be seen, a breakdown below this level will indicate that the downtrend from 80.62 (Jun 25 high) has resumed, then further decline to 77.00 could be seen.
USDCAD Analysis.
USDCAD’s downward movement from 1.0083 extends to as low as 0.9905. Further decline could be expected in couple of days, and next target would be at 0.9850 area. Resistance is at 0.9970, as long as this level holds, downtrend will continue.
AUDUSD Analysis.
AUDUSD remains in uptrend from 1.0176, the fall from 1.0612 is treated as consolidation of the uptrend. Another rise could be expected after consolidation and next target would be at 1.0650 area. Support is at 1.0495, followed by 1.0435, only break below these levels could signal completion of the uptrend.
