GBPUSD broke above 1.8277 previous high resistance and reached as high as 1.0388 level. Further rise towards 1.8480 is still possible later today. Key support is now located at 1.7916, fall below this level will indicate that a short term cycle top has been formed, and pullback will bring price back towards 1.7650 level.
USDCHF formed a short term cycle bottom at 1.0899 on 4-hour chart. Sideways consolidation in a range between 1.0899 and 1.1416 is expected in a couple of days. Deeper decline is now in favor after consolidation, and target would be at 1.0700 zone.
USDJPY broke above 106.71 key resistance and formed a short term cycle bottom at 103.54 level on 4-hour chart. Further rise is possible to 109.00 zone in a couple of days. Pullback would more likely be seen before breaking above 110.66 (Aug 15 high) resistance, and sideways consolidation in a range between 103.54 and 110.66 is now in favor in a couple of weeks.
AUDUSD broke above 0.8353 key resistance and the rebound from 0.7802 is now treated as resumption of up trend. Further rally is possible to 0.8450 later today, and the next target would be at 0.8650 zone.
As expected, USDCAD pulled back sharply to as low as 1.0429 level. Deeper decline to test 1.0410 (Aug 26 low) is still possible later today, a break of this level will signal further decline towards 1.0300 zone.
EURUSD is testing 1.4542 previous high resistance, a break of this level will signal further rally towards 1.4700 zone. Key support is now located at 1.4150, fall below this level will indicate that a short term cycle top has been formed, and pullback could be seen to 1.4050 level.
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