AUDUSD Analysis
AUDUSD fail to test the previous high resistance at 0.9018, and pulled back from 0.9014 level. Sideways consolidation in a range between 0.8819 and 0.9014 may be expected in the next several days. Key resistance is at 0.9014, a break above this level will signal the resumption of the up trend.
EURUSD Analysis
EURUSD is testing the previous high resistance at 1.4921, pullback from this level is possible later today, and fall towards 1.4400 area is expected to follow. Key support is at 1.4737 level, a break below this level will signal the reversal of the up trend.
USDJPY Analysis
USDJPY formed a short term cycle bottom at 104.96 level on 4-hour chart. Further rebound towards 109.00 area is still possible. Key support is at 104.96, only break below this level will signal the resumption of the down trend.
USDCAD Analysis
USDCAD is in down trend. Further decline to test the previous low support at 0.9756 level to reach the next short term cycle bottom is expected in a couple of days. Key resistance is now at 1.0118, a beak above this level will confirm the cycle bottom.
USDCHF Analysis
USDCHF broke below 1.0836 previous low and reached as low as 1.0811 level. Rebound towards 1.1050 area to reach the next short term cycle top on 4-hour chart is still possible in a couple of days.
GBPUSD Analysis
No changed in our view, GBPUSD is in up trend, and the rise from 1.9337 extended to as high as 1.9957. Further rise towards 2.0000 area to reach the next cycle top is still possible. Near term support is at 1.9731, only breakdown below this level will signal consolidation to the up trend.
More long term forex analysis.
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