EURUSD Analysis.
EURUSD might be forming a short term cycle top at 1.3785 on 4-hour chart. Fall towards 1.3000 could be seen in next several days, and a break down below 1.3443 previous low support will confirm the resumption of down trend.
GBPUSD Analysis.
GBPUSD remains in down trend and the fall from 1.8668 extends to as low as 1.7011 level. Deeper decline may be seen to 1.6750 later today. Initial resistance is at the down trend line from 1.8668 to 1.7659, now at 1.7475 level, as long as the trend line resistance holds, we’d expect downtrend to continue.
USDCHF Analysis.
USDCHF might be forming a short term cycle bottom at 1.1209 on 4-hour chart. Rise towards 1.1486 previous high is expected later today. Initial support is at 1.1209, only break down below this level will signal deeper decline to 1.1000 zone.
AUDUSD Analysis.
AUDUSD is forming a short term cycle top at 0.7133 on 4-hour chart. Fall towards 0.6000 could be seen in next several days, and a break of 0.6445 will signal resumption of down trend. Initial resistance is now located at 0.7133, only rise above this level will take price back to 0.7550 zone.
USDJPY Analysis.
USDJPY remains in down trend and the fall from 108.02 extends to as low as 97.91 level. Deeper decline is expected to 0.9700 in next several days. Initial resistance is now located at 101.48 and followed by 103.29.
USDCAD Analysis.
USDCAD remains in up trend and the rise from 1.0297 extends to as high as 1.1565 level. Further rise towards 1.1700 is still possible later today. Initial support is at 1.1280 and followed by the up trend line, and as long as the trend line support holds, up trend will continue.
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