USDCHF breaks above 1.0857 resistance and is now in short term uptrend. Further rally is expected to test 1.0986 medium term key resistance, a break above this level will indicate that the downtrend from 1.1740 (Apr 20 high) has completed at 1.0590 level already, and then the following uptrend will take price to 1.1150-1.1200 area. Initial support is at 1.0865, as long as this level holds, we’d expect the short term uptrend from 1.0650 to continue.
GBPUSD breaks below 1.6240 support. Deeper decline is now in favor and the target would be at 1.5900 zone. Initial resistance is at 1.6330 followed by 1.6435, as long as these levels hold, the short term downtrend from 1.6618 will continue.
EURUSD breaks below 1.3793 key support, suggesting that the uptrend from 1.2884 has completed at 1.4338 level already. Now the pair is in downtrend. Further fall towards 1.3500 is expected in a couple of days. Initial resistance is at 1.3830 followed by 1.3890, as long as 1.3890 resistance holds, we’d expect the short term downtrend from 1.4171 to continue.
USDCAD breaks above 1.1289 previous high resistance. The pair is now in short term uptrend. Further rise is expected to 1.6000 zone in next several days. Initial support is at 1.1260, as long as this level holds, uptrend will continue.
AUDUSD breaks below 0.7967 support, suggesting deeper decline to re-test 0.7827 medium term key support, a break down below this level will indicate that the uptrend from 0.6952 (Apr 20 low) has completed at 0.8263 level already. Near term resistance is at 0.7985 followed by 0.8045.
USDJPY stays in the trading range between 97.08 and 98.88. Key resistance is now at 98.88, a break above this level will signal further rally to 100.00 level. Key support is at 97.08, below this level will indicate that the uptrend from 93.85 has completed at 98.88 already, and the following downtrend will take price to 95.00 zone.