GBPUSD Analysis.
GBPUSD formed a trading range between 1.6251 and 1.6692. Moving sideways without trend is still possible in a couple of day and another fall towards 1.6000 would more likely be seen after consolidation. However, a break above 1.6692 will indicate that the longer term downtrend from 1.7042 (Aug 5 high) has completed at 1.5708 level already, then another rise could be seen to retest 1.7042 resistance.
USDJPY Analysis.
USDJPY broke above 90.64 key resistance, suggesting that a short term cycle bottom has been formed at 89.44 level on 4-hour chart. Rise towards 92.32 is now in favor. Support is now located at the rising trend line, and key support is at 89.44, only fall below this level could signal another fall towards 88.01.
USDCHF Analysis.
USDCHF broke below the support of the rising price channel and reached as low as 1.0127, suggesting that a short term cycle top has been formed at 1.0338 level on 4-hour chart and the rise from 1.0032 has completed. The pair is now in downtrend and fall towards 1.0032 is possible in a couple of days. Resistance is at 1.0200, as long as this level holds, downtrend will continue.
USDCAD Analysis.
USDCAD broke below 1.0627 key support, suggesting that a short term cycle top has been formed at 1.0852 level on 4-hour chart, and the uptrend from 1.0206 has completed. Now the fall from 1.0852 could possibly be resumption of long term downtrend, deeper decline is expected to re-test 1.0206 previous low support. Resistance level is at 1.0690, as long as this level holds, we’d downtrend to continue.
EURUSD Analysis.
EURUSD broke above 1.4859 key resistance, and formed a short term cycle bottom at 1.4626 level on 4-hour chart. Now the rise from 1.4626 is possibly be resumption of longer term uptrend from 1.3748 (June 16 low), and another rise towards 1.5062 previous high is expected in next several days, however, consolidation could be seen before breaking above this level.
AUDUSD Analysis.
AUDUSD broke above the falling trend line on 4-hour chart, further rise is now in favor and a break above 0.9180 will indicate that a short term cycle bottom has been formed at 0.8916 level on 4-hour chart and the fall from 0.9326 has completed, then another rise could bring price to 0.9500 area.
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