AUDUSD’s up trend remains and further rise to test 1.9496 (Feb 28 high) is still possible in the next several days. Initial support is at the up trend line from 0.9031 to 0.9271 and key support is at 0.9271, as long as the key support holds, up trend will continue.
EURUSD is in up trend. The fall from 1.5983 is treated as correction to the up trend. Further rally to 1.6200 area is still possible. Initial support is at 1.5710 followed by 1.5671, only break below 1.5671 support will signal the reversal to the up trend.
Being contained by the price channel resistance, GBPUSD pulls back sharply from 2.0029. Deeper decline to test 1.9599 previous low support is now in favor. Near term resistance is at 2.0029, a break above this level will indicate lengthier consolidation to the long term down trend is underway.
USDCHF formed a short term cycle top at 1.0284 on 4-hour chart. Further fall to test 0.9887 previous low support is expected. As long as 0.9887 holds, we’d expect up trend to resume and rise towards 1.0500 area is still possible.
USDCAD formed a short term cycle bottom at 0.9987 level on 4-hour chart. The pair is now in consolidation to the down trend. Deeper decline to 0.9800 area is expected after consolidation and a break of 0.9987 level will signal the resumption of the down trend.
USDJPY formed a short term cycle top at 104.64 level on 4-hour chart. Pullback to retest the price channel support is expected. Key resistance is at 104.64, only break of this level will signal the resumption of the up trend.