USDCAD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.0055. As long as the trend line resistance holds, the downtrend could be expected to continue, and further decline to test 0.9874 support could be seen. On the upside, a clear break above the trend line resistance will suggest that a cycle bottom has been formed at 0.9914, then the following upward movement could bring price back towards 1.0055 previous high.
AUDUSD breaks above 1.0480 resistance, suggesting that the uptrend from 1.0149 (Oct 8 low) has resumed. Further rise could be expected and next target would be at 1.0550 area. Support is located at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend from 1.0387 will continue.
EURUSD’s upward movement from 1.2661 extends to as high as 1.3008. Further rise could be expected after a minor consolidation, and next target would be at 1.3100 area. Support is at 1.2900, as long as this level holds, the uptrend will continue.
GBPUSD remains in uptrend from 1.5827. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.6100 area, only a clear break below the trend line could signal completion of the uptrend.
USDJPY breaks below 82.00 support, suggesting that a cycle top has been formed at 82.83 on 4-hour chart. However, the fall is likely consolidation of the uptrend from 79.07, another rise could be expected after consolidation, and a break above 82.83 resistance will signal resumption of the uptrend.
USDCHF’s downward movement from 0.9511 extends to as low as 0.9254. Further decline could be expected after a minor consolidation, and next target would be at 0.9200 area. Resistance is at 0.9330, as long as this level holds, the downtrend will continue.