AUDUSD Analysis.
AUDUSD remains in downtrend from 1.0597, the price action in the trading range between 1.0360 and 1.0475 is likely consolidation of the downtrend. Another fall could be expected after consolidation, and next target would be at 1.0300 area. On the upside, a break above 1.0475 will suggest that a cycle bottom had been formed at 1.0360 on 4-hour chart, and the downward movement from 1.0597 had completed, then further rise towards 1.0700 could be seen.
GBPUSD Analysis.
Being contained by the resistance of the upper line of the price channel on 4-hour chart, GBPUSD’s downtrend from 1.6339 resumed, and a cycle top had been formed at 1.5878. Further decline would likely be seen and next target would be at 1.5600 area. Initial resistance is at the upper line of the channel and key resistance is now located at 1.5878, only break above this level could signal completion of the downtrend.
USDCHF Analysis.
USDCHF’s downward movement from 0.9388 extends to as low as 0.9021, the subsequent bounce is likely consolidation of the downtrend. Further decline could be expected after consolidation and next target would be at 0.8950 area. Resistance is at 0.9150, as long as this level holds, the downtrend will continue.
EURUSD Analysis.
EURUSD’s upward movement from 1.2998 extends to as high as 1.3711. Further rise is still possible after a minor consolidation, and next target would be at 1.3800 area. Support is at 1.3540, as long as this level holds, the uptrend will continue.
USDJPY Analysis.
USDJPY’s upward movement from 88.06 extends to as high as 92.95. support is now at 91.40, as long as this level holds, the uptrend will continue, and next target would be at 94.00 area. On the downside, a breakdown below 91.40 support will suggest that consolidation of the uptrend is underway, then pullback to 90.00 area could be seen.
USDCAD Analysis.
USDCAD remains in downtrend from 1.0100, the rise from 0.9956 is likely consolidation of the downtrend. Further decline could be expected, and next target would be at 0.9900 area. Resistance is at 1.0020, as long as this level holds, the downtrend will continue.
