AUDUSD breaks above this resistance of the falling trend line from 0.8155 to 0.8038, suggesting that a short term cycle bottom has been formed at 0.7703 level on 4-hour chart, and the downtrend from 0.8155 has completed already. Further rally is possible to test 0.8155 resistance in next several days, a break above this level will indicate that the fall from 0.8263 has completed and the rebound from 0.7703 could be resumption of uptrend from 0.6248. Only fall below 0.7703 level will signal deeper decline to 0.7600-0.7650 area.
USDCAD drop sharply below 1.1418 medium term key support, suggesting that the uptrend from 1.0784 has completed at 1.1723 level already. Now the pair is in downtrend. Deeper decline is still possible to 1.1200 in a couple of days. Near term resistance is at 1.1400 followed by 1.1465, as long as these levels hold, downtrend will continue.
USDJPY breaks above 93.59 resistance, suggesting that a short term cycle bottom has been formed at 91.73 level on 4-hour chart. Further rally is still possible to 94.50 zone in a couple of days. However, the rise from 91.73 is treated as consolidation of downtrend from 98.88, deeper decline is possible to 90.00 after consolidation.
EURUSD stays in the trading range between 1.3832 and 1.4072. Moving sideways is still in favor later today. The price action from 1.3832 is treated as consolidation of downtrend from 1.4197 and deeper decline is expected to 1.3700 zone after consolidation.
GBPUSD is moving to test 1.6379 resistance, breaking above this level to reach the next cycle top on 4-hour chart is possible in a couple of days and target would be at 1.6400-1.6500 area. Near term support is at 1.6220, as long as this level holds, the short term uptrend from 1.6033 will continue. However, a break below this level will indicate that the pair is back to range trading between 1.5984 and 1.6379, then lengthier consolidation in the range could be seen to follow.
USDCHF breaks above 1.0923 key resistance, suggesting that a short term cycle bottom has been formed at 1.0750 level on 4-hour chart. The subsequent pullback from 1.0938 indicates that the pair is back to range trading between 1.0712 and 1.1021. Further fall is expected to 1.0750-1.0800 area in a couple of days. Near term resistance is at 1.0956, only rise above this level will signal further rally to test 1.1021 previous high resistance.