AUDUSD Analysis.
AUDUSD remains in downtrend from 1.0597, the rise from 1.0384 is likely consolidation of the downtrend. Resistance is at 1.0500, as long as this level holds, the downtrend could be expected to resume, and another fall to 1.0350 area is still possible. On the upside, a break above 1.0500 will indicate that the downtrend from 1.0597 has completed at 1.0384 already, then the following upward movement could bring price to 1.0700 zone.
USDCHF Analysis.
USDCHF remains in downtrend from 0.9388, the rise from 0.9222 would possibly be consolidation of the downtrend. Initial resistance is located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to resume, and another fall towards 0.9100 is still possible. Key resistance is located at 0.9325, only break above this level could signal completion of the downtrend.
GBPUSD Analysis.
GBPUSD’s downward movement from 1.6176 extends to as low as 1.5674. Further decline is still possible after a minor consolidation and next target would be at 1.5600 area. Resistance is at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend will continue.
EURUSD Analysis.
EURUSD remains in uptrend from 1.2998. Further rise would likely be seen after a minor consolidation, and next target would be at 1.3600 area. Support is at 1.3340, as long as this level holds, the uptrend will continue.
USDJPY Analysis.
USDJPY remains in uptrend from 82.11. Further rise is still possible and next target would be at 92.00 area. Support is at 89.50, only break below this level will indicate that consolidation of the uptrend is underway, then deeper decline to test 88.06 key support could be seen.
USDCAD Analysis.
USDCAD may be forming a cycle top at 1.0100 on 4-hour chart. Key support is at 1.0025, a breakdown below this level will suggest that the uptrend 0.9815 has completed, then deeper decline to 0.9900-0.9950 area could be expected. Resistance is at 1.0100, only break above this level could trigger another rise to 1.0200 zone.
