USDCHF Analysis.
USDCHF breaks above the resistance of the falling trend line from 1.1263 to 1.1056, suggesting that a short term cycle bottom has been formed at 1.0812 level on 4-hour chart. Range trading between 1.0800 and 1.1050 is expected in a couple of days. However, the price action from 1.0812 is more likely consolidation of the downtrend from 1.1740 (Apr 20 high), further fall towards 1.0600 could be seen after consolidation.
USDJPY Analysis.
USDJPY breaks above 95.25 resistance. Further rise is possible to 96.00 in a couple of days. However, the price action from 94.56 is more likely consolidation of downtrend from 99.64, further fall is still possible after consolidation. Initial support is at 94.90 followed by 94.50, below 94.50 will indicate that the downtrend from 99.64 has resumed.
EURUSD Analysis.
EURUSD has formed a short term cycle top at 1.4050 level on 4-hour chart. Range trading between 1.3800 and 1.4050 is expected in a couple of days. However, the fall from 1.4050 is more likely consolidation of uptrend from 1.2884, further rally towards 1.4200-1.4250 area could be expected after consolidation.
AUDUSD Analysis.
AUDUSD is in consolidation of uptrend from 0.6952 (Apr 20 low). Pullback to test 0.7668 key support is still possible in a couple of days. A break below this level will take price to 0.7500-.07550 area.
GBPUSD Analysis.
GBPUSD breaks below the lower border of the rising price channel on 4-hour chart and reaches 1.5777 level only. The following rebound suggests that the uptrend from 1.5059 has resumed. Further rally is expected to 1.6150-1.6200 area. Key support is now at 1.5777, only fall below this level will indicate that the short term uptrend from 1.5059 has completed.
USDCAD Analysis.
USDCAD breaks above the falling trend line from 1.1814 to 1.1482, suggesting that a short term cycle bottom has been formed at 1.1187 level on 4-hour chart. Now the price action from 1.1187 is treated as consolidation of downtrend from 1.1814, one more rise to test 1.1354 resistance is possible in a couple of days.
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