EURUSD broke below 1.3499 support and reached as low as 1.3386. Further decline would likely be seen in next several days, and next target would be at 1.3200 area. Resistance is at 1.3600, only break above this level could indicate that a cycle bottom has been formed at 1.3386 on 4-hour chart, and lengthier consolidation of downtrend from 1.4548 is underway, then further rally could be seen to 1.3800 zone.
AUDUSD broke below 0.9927 (Aug 9 low) support and reached as low as 0.9691. Consolidation is needed in a couple of days, and the trading range would be between 0.9691 and 0.9950. As long as 0.9950 resistance holds, downtrend could be expected to resume, and another fall towards 0.9000 is possible.
GBPUSD continued its downward movement from 1.6453, and the fall extended to as low as 1.5327. Further fall is still possible after a minor consolidation and next target would be at 1.5200 area. Resistance remains at the downtrend line on 4-hour chart, only a clear break above the trend line could indicate that the fall from 1.6453 is complete.
USDCAD’s rise from 0.9779 extended to as high as 1.0360, the subsequent fall suggested that a cycle top is being formed on 4-hour chart. Range trading between 1.0150 and 1.0360 would likely be seen in next several days. However, the fall from 1.0360 is treated as consolidation of uptrend, another rise is still possible after consolidation, and a break above 1.0360 could signal resumption of uptrend.
USDCHF’s upward movement from 0.8648 extended to as high as 0.9181. Support is now at 0.8950, as long as this level holds, uptrend could be expected to continue, and next target would be at 0.9300 area.
USDJPY’s downward move from 77.85 extended further to as low as 76.09. Another fall to test 75.96 previous low support is still possible later today, a breakdown below this level could signal resumption of the long term downtrend from 124.16 (2007 high). Resistance is at the downtrend line on 4-hour chart, only break above the trend line could indicate that the fall from 77.85 is complete.