EURUSD Analysis.
EURUSD has formed a cycle top at 1.3711 on 4-hour chart. Range trading between 1.3430 and 1.3711 would likely be seen in a couple of days. Support is at 1.3430, as long as this level holds, the fall from 1.3711 is treated as consolidation of the uptrend from 1.2998, and another rise towards 1.4000 is still possible. On the downside, a breakdown below 1.3430 will suggest that lengthier consolidation of the longer term uptrend from 1.2661 (Nov 13, 2012 low) is underway, then deeper decline to 1.3300 area could be seen.
AUDUSD Analysis.
AUDUSD stays in a trading range between 1.0360 and 1.0475. Key resistance is at 1.0475, as long as this level holds, the price action in the range is treated as consolidation of the downtrend from 1.0597, and another fall to 1.0300 area is still possible. On the upside, a break above 1.0475 will indicate that a cycle bottom has been formed at 1.0360 on 4-hour chart, and the downward movement from 1.0597 has completed at 1.0360 already, then the following upward movement could bring price back to 1.0700 zone.
GBPUSD Analysis.
GBPUSD moves sideways in a trading range between 1.5674 and 1.5878. As long as 1.5878 key resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.6339, another fall to 1.5600 area is still possible after consolidation. Only break above 1.5878 resistance will indicate that the downward movement from 1.6339 has completed, then the following upward move could bring price back to 1.6500 zone.
USDCHF Analysis.
USDCHF remains in downtrend from 0.9388, the rise from 0.9021 is likely consolidation of the downtrend. Resistance is at 0.9150, as long as this level holds, the downtrend could be expected to resume, and another fall to 0.8950 area is still possible, only break above 0.9150 could signal completion of the downtrend.
USDJPY Analysis.
USDJPY may be forming a cycle top at 93.18 on 4-hour chart. Range trading between 91.35 and 93.18 would likely be seen in a couple of days. However, as long as 91.35 support holds, the fall from 93.18 is treated as consolidation of the uptrend from 88.06, another rise towards 95.00 is still possible after consolidation.
USDCAD Analysis.
USDCAD’s downward movement from 1.0100 extends to as low as 0.9947. Further decline is still possible after a minor consolidation, and next target would be at 0.9900 area. Resistance is at 1.0020, as long as this level holds, the downtrend will continue.
