AUDUSD Analysis.
AUDUSD stays in a downward price channel on 4-hour chart, and remains in downtrend from 1.0488. Initial resistance is now at the upper line of the channel, as long as the channel resistance holds, the downtrend could be expected to continue, and the target would be at 1.0350 area. Key resistance is located at 1.0460, a break above this level will indicate that he fall from 1.0488 has completed, then the following upward movement could bring price to 1.0550 zone.
GBPUSD Analysis.
GBPUSD continues its upward movement from 1.5827 and the rise extends to as high as 1.6115. Further rise could be expected after a minor consolidation, and next target would be at 1.6150 area. Key support is at the upward trend line on 4-hour chart, only a clear break below the trend line could signal completion of the uptrend.
USDCAD Analysis.
USDCAD breaks above the upper line of the price channel on 4-hour chart, suggesting that lengthier consolidation of the downtrend from 1.0055 is underway. Further rally would likely be seen and the target would be at 0.9960-0.9980 area. Another fall could be expected after consolidation, and a breakdown below 0.9905 could signal resumption of the downtrend.
EURUSD Analysis.
EURUSD’s upward movement from 1.2661 extends to as high as 1.3075. Support remains at the trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.3150 area, only a clear break below the trend line support could signal consolidation of the uptrend.
USDJPY Analysis.
USDJPY moves sideways in a range between 81.69 and 82.83. The price action in the range is treated as consolidation of the uptrend from 79.07. Another rise towards 85.00 could be expected after consolidation, and a break above 82.83 could signal resumption of the uptrend.
USDCHF Analysis.
USDCHF’s downward movement extends to as low as 0.9241. Resistance is at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 0.9000, only a clear break above the trend line resistance could signal consolidation of the downtrend.
