AUDUSD break above the falling price channel on 4-hour chart, suggesting that a short term cycle bottom is being formed at 0.8982 and the fall from 0.9327 has completed. Bounce to 0.9160 area to reach next cycle top is expected in a couple of days. Support is at 0.8982, only fall below this level could indicate that the fall from 0.9327 has resumed, then another decline could be seen to 0.8900 zone.
USDCHF remains in uptrend from 1.0132 and the fall from 1.0495 is treated as consolidation of uptrend. Range trading between 1.0350 and 1.0507 is expected in a couple of days. Support is at the rising trend line on 4-hour chart now at 1.0345, rebound would more likely be seen after touching the trend line support.
GBPUSD bounces sharply from 1.6078 and breaks above the falling trend line on 4-hour chart, suggesting that the fall from 1.6456 has completed. Another rise towards 1.6456 previous high is now in favor. Support is at 1.6195 followed by 1.6078, only fall below 1.6078 level could signal resumption of downtrend.
USDCAD stays in a rising price channel on 4-hour chart and remains in uptrend from 1.0224. As long as the channel support holds, we’d expect uptrend to continue. However, a clear break below the channel support will indicate that a short term cycle top is being formed on 4-hour chart, then consolidation of uptrend could be expected to follow.
EURUSD formed a short term cycle bottom at 1.4029 level on 4-hour chart. Range trading between 1.4029 and 1.4250 is expected in a couple of days. Initial resistance is at the falling trend line followed by 1.4250. As long as 1.4250 resistance holds, the bounce from 1.4029 is treated as consolidation of downtrend from 1.4579 and one more fall to 1.3800 is possible after consolidation.
USDJPY is in downtrend from 91.87 and the bounce from 89.78 is more likely consolidation of downtrend. Another fall to 88.50-89.00 area is expected after consolidation. Resistance is located at the falling trend line from 93.75 to 91.87, only rise above the trend line resistance could indicate that the fall from 93.75 has completed.