AUDUSD Analysis.
AUDUSD is bottoming at 0.7722 level on 4-hour chart. Range trading between 0.7722 and 0.7950 would more likely be seen in a couple of days, and a break above 0.7950 will confirm the cycle bottom and suggest that the downtrend from 0.8155 has completed. Near term support is at 0.7722, only fall below this level will signal resumption of downtrend.

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AUDUSD Analysis.
AUDUSD drops sharply below 0.7789 previous low support and reaches as low as 0.7722 level. The pair remains in downtrend from 0.8155. Deeper decline is still possible to 0.7650-0.7700 area. Near term resistance is at 0.7835 and followed by 0.7890, as long as these levels hold, we’d expect the downtrend to continue. However, above 0.7890 level will indicate that a short term cycle bottom has been formed on 4-hour chart and the downtrend from 0.8155 has completed.

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EURUSD Analysis.
After touching 1.4027 resistance, EURUSD drops sharply from 1.4050 level, suggesting that the pair remains in short term downtrend from 1.4197. Deeper decline is still in favor, and the next target is to test 1.3748 previous low support. Near term resistance is now at the falling trend line from 1.4197 to 1.4050, and followed by 1.4050, as long as the trend line resistance holds, we’d expect the downtrend to continue.

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EURUSD Analysis.
EURUSD breaks below 1.3889 key support and reaches as low as 1.3876 level, suggesting that the pair is now in short term downtrend from 1.4197. The price action in the trading range between 1.3876 and 1.4027 is treated as consolidation of downtrend. As long as 1.4027 resistance holds, we’d expect downtrend to resumed, and deeper decline is expected to re-test 1.3748 previous low support. However, a break above 1.4027 resistance will indicate lengthier correction of downtrend is underway, then further rebound could be seen to 1.4100-1.4150 area.

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EURUSD Analysis.
EURUSD formed a short term cycle top at 1.4197 level on 4-hour chart. Deeper decline is possible to test 1.3889 supprt later today, a break down below this level will confirm that the uptrend from 1.3748 has completed at 1.4197 level, then the following downtrend will take price to 1.3750-1.3800 area. Near term resistance is at 1.4030, as long as this level holds, we’d expect the short term downtrend from 1.4197 to continue.

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AUDUSD Analysis.
AUDUSD breaks below 0.8024 key support and drops sharply to as low as 0.7902 level, suggesting that that a short term cycle top has been formed at 0.8155 level on 4-hour chart. Further fall is still possible to test 0.7789 previous low support, a break below this level will indicate that the medium term uptrend from 0.6284 has completed at 0.8263 level already. Near term resistance is at 0.7980, as long as this level holds, the short term downtrend from 0.8155 will continue.

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USDCAD Analysis.
After breaking above 1.1636 resistance, USDCAD drops sharply from 1.1654 and breaks below the lower border of the rising price channel. Further fall to test 1.1418 key support is possible later today, a break down below this level will indicate that the uptrend from 1.0940 has completed, then next target would be at 1.1300-1.1350 area. Key resistance is now located at 1.1654, only rise above this level will signal resumption of uptrend.

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AUDUSD Analysis.
AUDUSD stays above the rising trend line on 4-hour chart and remains in short term uptrend from 0.7789. As long as the trend line support holds, we’d expect uptrend to continue and further rally is possible to 1.8200 zone in a couple of days. However, a clear break below the trend line support will indicate that the rise from 0.7789 has completed and the follow pullback will take price to 0.7850-0.7900 area.

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