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.
USDCAD Analysis.
USDCAD failed to test 1.1418 support and rebounded sharply from 1.1439 level, suggesting that the pair remains in uptrend from 1.0784. Further rally is in favor and next target would be at 1.1700 or even higher. Near term support is at the lower border of the rising price channel, and key support is at 1.1418, only fall below this level will indicate that the uptrend from 1.0784 has completed.
USDJPY Analysis.
USDJPY might be forming a short term cycle top at 96.97 level on 4-hour chart. Sideways consolidation in a range between 94.87 and 96.97 is expected in next several days. One more rise above 96.97 previous high is possible after consolidation. Key support is at 94.87, below this level will indicate that the downtrend from 98.88 has resumed, then deeper decline could be seen to test 93.85 support.
GBPUSD Analysis.
GBPUSD is in short term downtrend from 1.6743. Further fall is in favor and target is to test 1.6187 key support, a break down below this level will signal deeper decline to 1.5900-1.5950 area. Near term resistance is at 1.6550, only rise above this level will suggests that the fall from 1.6743 has completed.
EURUSD Analysis.
EURUSD breaks below 1.4001 key support, suggesting that a short term cycle top has be formed at 1.4197 level on 4-hour chart, and the uptrend from 1.3748 has completed at 1.4197 level already. Deeper decline is now in favor and target is to test 1.3748 previous low support. Near term resistance is at 1.4050, as long as this level holds, we’d expect the downtrend to continue.
USDCHF Analysis.
USDCHF rebounds from 1.0712 level and breaks above the resistance of the falling trend line on 4-hour chart. Range trading between 1.0712 and 1.1021 is expected in next several days and one more rise above 1.1021 previous high would more likely be seen after consolidation.
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