USDCAD Analysis.
USDCAD remains in downtrend from 1.0083, the rise from 0.9859 is treated as consolidation of the downtrend. Resistance is now at 0.9930, as long as this level holds, we’d expect downtrend to resume, and another fall towards 0.9800 is still possible. However, a break above 0.9930 resistance will indicate that a cycle bottom has been formed on 4-hour chart, and the fall from 1.0083 has completed, then further rally could be seen to follow, and the target would be at 1.0000 area.
EURUSD Analysis.
EURUSD is testing the support of the upward trend line on 4-hour chart. As long as the trend line support holds, uptrend could be expected to resume, and another rise towards 1.2600 is still possible. On the downside, a clear break below the trend line will indicate that the uptrend from 1.2042 has completed at 1.2442 already, then the following downward movement could bring price to 1.1500 area.
USDCHF Analysis.
USDCHF is testing the resistance of the downward trend line on 4-hour chart. As long as the trend line resistance holds, the downtrend from 0.9971 could be expected to resume, and another fall towards 0.9500 is still possible. However, a clear break above the trend line will indicate that the downtrend from 0.9971 has completed at 0.9656 already, then the following upward movement could bring price to 1.0200 area.
GBPUSD Analysis.
GBPUSD stays above a upward trend line on 4-hour chart, and remains in uptrend. Another rise to test 1.5767 resistance is possible, a break above this level will target 1.5900 area. On the downside, a breakdown below the trend line will indicate that lengthier consolidation in a range between 1.5458 and 1.5767 is underway, then deeper decline to test 1.5458 support could be seen.
USDJPY Analysis.
USDJPY continues its upward move from 77.92, and the rise extends to as high as 79.65. Further rise is still possible after a minor consolidation, and next target would be at 80.00 area. Support is at 79.30, as long as this level holds, uptrend will continue.
AUDUSD Analysis.
AUDUSD breaks below 1.0435 support, suggesting that the uptrend from 1.0176 has completed at 1.0612 already, and the pair is now in downtrend. Further decline could be expected after a minor consolidation, and next target would be at 1.0350 area. Resistance remains at the upper line of the price channel on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.
