USDCAD broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 1.4048 had completed at 1.3314 already. Further rally would likely be seen and next target would be at 1.3850 area. Near term support is at 1.3575, a breakdown below this level could trigger another fall towards 1.3450.

USDJPY extended its downside movement from 109.84 to as low as 106.57. Further decline would likely be seen and next target would be at 106.00 area. Near term resistance is at 107.30, a break of this level could bring the price back to 108.00 zone.

AUDUSD is facing the support of the rising trend line on the 4-hour chart. As long as the trend line support holds, the fall from 0.7063 would possibly be consolidation for the uptrend from 0.6401, another rise towards 0.7100 could be expected after the consolidation. On the downside, a breakdown below the trend line support … Continue reading “AUDUSD Daily Analysis – June 12, 2020”

GBPUSD broke below the bottom of the rising price channel on the 4-hour chart, suggesting that the uptrend from 1.2073 had completed at 1.2812 already. Another fall towards 1.2100 would likely be seen in the coming days. Near term resistance is at 1.2650, only break above this level could trigger another rise towards 1.2800.

EURUSD broke below the rising trend line on the 4-hour chart, suggesting that lengthier consolidation for the uptrend from 1.0766 is underway. Range trading between 1.1240 and 1.1422 would likely be seen in a couple of days. As long as 1.1240 support holds, the upside movement could be expected to resume, and further rise to … Continue reading “EURUSD Daily Analysis – June 12, 2020”

USDCAD stays below a falling trend line on the 4-hour chart and remains in the downtrend from 1.4048. As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 1.3200 area. Key resistance is at 1.3487, a break of this level would indicate that … Continue reading “USDCAD Daily Analysis – June 11, 2020”

USDJPY broke below the rising trend line on the 4-hour chart, indicating that the upside movement from 105.98 had completed at 109.84 already. Further decline would likely be seen after a minor consolidation and next target would be at 106.00 area. Near term resistance is at 107.90, only break above this level could trigger another … Continue reading “USDJPY Daily Analysis – June 11, 2020”

AUDUSD extended its upside movement from 0.6401 to as high as 0.7063. Further rise could be expected after consolidation and next target would be at 0.7200 area. Near term support is at 0.6898, a breakdown below this level could bring the price back towards the rising trend line on the 4-hour chart.

GBPUSD extended its upside movement from 1.2073 to as high as 1.2812. As long as the price is in the rising price channel on the 4-hour chart, the upside movement could be expected to continue and next target would be at 1.2900 area. Key support is at 1.2617, a breakdown below this level could bring … Continue reading “GBPUSD Daily Analysis – June 11, 2020”

EURUSD broke above 1.1383 resistance and extended its upside movement from 1.0766 to as high as 1.1422. As long as the price is above the rising trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 1.1500 area. Key support is at 1.1240, only break … Continue reading “EURUSD Daily Analysis – June 11, 2020”