GBPUSD Analysis.
GBPUSD has formed a short term cycle bottom at 1.6391 level on 4-hour chart. Further rise is expected later today and target would be at 1.6750 zone. Near term support is at 1.6391, below this level will suggest that the downtrend from 1.7042 has resumed, then deeper decline could be seen to 1.6000 level.
EURUSD Analysis.
EURUSD has formed a short term cycle bottom at 1.4086 level on 4-hour chart. Further rise is now in favor and next target is at 1.4350-1.4400 area. Near term support is at 1.4250 followed by 1.4230, as long as these levels hold, the short term uptrend from 1.4186 will continue.
USDCHF Analysis.
USDCHF remains in short term downtrend from 1.0883. Deeper decline is still possible later today and next target would be at 1.0650 level. Near term resistance is at 1.0750, as long as this level holds, downtrend will continue.
USDCAD Analysis.
USDCAD drops sharply from 1.1075 and breaks below 1.0795 support. Consolidation in a range between 1.0700 and 1.1075 is expected in a couple of days. Previous low support at 1.0632 would more likely be held and one more rise above 1.1075 is still possible after consolidation.
USDJPY Analysis.
USDJPY remains in short term downtrend and the fall from 97.78 extends further to as low as 1.9504 level. Deeper decline is still possible later today and target is to test 94.36 support, a break down below this level will indicate that the uptrend from 91.73 has completed at 97.78 level already.
AUDUSD Analysis.
AUDUSD breaks above 0.8469 previous high resistance, suggesting that the uptrend from 0.7703 has resumed. Further rise is possible to 0.8600 zone in a couple of days. Near term support is at 0.8365, as long as this level holds, short term uptrend from 0.8180 will continue.
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