AUDUSD formed a short term cycle bottom at 0.8946 level on 4-hour chart, further rise to test the resistance of the falling trend line from 0.9404 to 0.9321 is possible later today, a clear break above the trend line resistance will indicate that the fall 0.9404 has completed, then another rise towards 0.9500 could be seen to follow. Critical support is located at 0.8916, below this level will suggest that the uptrend from 0.7703 (July 13 low) has completed at 0.9404 already, then the following downtrend could bring price to 0.8500 zone.
GBPUSD stays below a falling trend line from 1.6875 to 1.6745, as long as the trend line resistance holds, the pair is treated in downward trend from 1.6875, deeper decline is expected to retest 1.5708 (Oct 13 low) support. However, another rise to test the trend line resistance is still possible, only a clear break above the trend line resistance could indicate that the fall from 1.6875 has completed.
EURUSD traded in range between 1.4801 and 1.5144, lengthier consolidation in the range is expected in a couple of days. As long as 1.4801 support holds, we’d expect uptrend to resume and one more rise towards 1.5200-1.5300 area is possible. However, below 1.4801 key support will indicate that the uptrend from 1.3748 (Jun 16 low) has completed at 1.5144 level already, then the falling downtrend could take price to 1.4000 zone.
USDJPY formed a short term cycle bottom at 84.82 level on 4-hour chart, further rise towards to falling trend line from 90.60 to 89.18 could be seen later today. As long as the trend line resistance holds, the rebound from 84.82 is treated as correction of downtrend from 92.32 and one more fall is still possible after consolidation. However, a clear break above the trend line resistance will indicate that the fall from 92.32 has completed at 84.82 already, then next target would be at 90.00 zone.
USDCAD formed a trading range between 1.0416 and 1.0748. Now the fall from 1.0748 is more likely resumption of downtrend, another fall to test 1.0416 support is possible in a couple of day, a break below this level will signal deeper decline towards 1.0206 (Oct 15 low). Resistance is at 1.0748, only rise above this level will signal further rally towards 1.0852 previous high.
USDCHF stays in a trading range between 0.9917 and 1.0222, lengthier consolidation in the range is still possible in a couple of days. As long as 1.0222 resistance holds, another fall towards 0.9800 is still possible. Only rise above 1.0222 key resistance could indicate that the fall from 1.1021 has completed.