USDCHF Analysis.

USDCHF remains in downtrend from 0.9455, the rise from 0.9229 is likely consolidation of the downtrend. Resistance is now located at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and another fall towards 0.9000 is still possible. Key resistance is at 0.9340, only break above this level will signal completion of the downtrend, then another rise towards 0.9600 could be seen.

USDJPY Analysis.

USDJPY is facing the support of the lower line of the price channel on 4-hour chart. As long as the channel support holds, the price action from 100.22 could be treated as consolidation of the uptrend from 95.81, one more rise to 101.50 area is still possible after consolidation. However, a clear break below the channel support will signal completion of the uptrend, then the following downward movement could bring price back to 95.00 zone.

EURUSD Analysis.

EURUSD remains in uptrend from 1.3105, the fall from 1.3385 is likely consolidation of the uptrend. Initial support is now located at the lower line of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to resume, and another rise towards 1.3500 is still possible after consolidation. Key support is at 1.3250, only break below this level could signal completion of the uptrend.

AUDUSD Analysis.

AUDUSD remains in uptrend from 0.8892, the fall from 0.9390 is treated as consolidation of the uptrend. Initial support is at the upward trend line on 4-hour chart, and the key support is at 0.9220, only break below this level could signal completion of the uptrend.

GBPUSD Analysis.

GBPUSD stays above a upward trend line on 4-hour chart, and remain in uptrend from 1.5429. Support is at the trend line, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.6000 area. On the downside, a clear break below the trend line support will suggest that consolidation of the uptrend is underway, then pullback to 1.5800 area could be seen.

USDCAD Analysis.

USDCAD’s downward movement from 1.0559 extends to as low as 1.0282. Resistance is at 1.0360, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.0200 area. On the upside, a break above 1.0360 resistance will indicate that consolidation of the downtrend from 1.0568 is underway, then range trading between 1.0282 and 1.0380 could be seen.

Content curiosity of FOREXCycle