AUDUSD stays in a trading range between 0.9157 and 0.9381 and the price action in the range is treated as consolidation of uptrend from 0.8577 (Feb 5 low). As long as 0.9157 key support holds, another rise towards 0.9500 is still possible, and a break above 0.93.81 could signal resumption of uptrend. However, a clear break below 0.9157 support could indicate that the uptrend from 0.8577 has completed at 0.9381 already, then the following downtrend could take price back to 0.8500 area.
EURUSD has formed a cycle bottom at 1.3202 level on 4-hour chart. Further rise to 1.3450-1.3500 area to reach next cycle top on 4-hour chart is expected. Support is at 1.3285, below this level may suggest that the bounce from 1.3202 has completed.
USDCAD traded in a range between 0.9930 and 1.0064. Sideways movement is expected to continue later today. As long as 1.0064 support holds, another fall towards 0.9800 is still possible, and a breakdown below 0.9930 may signal resumption of downtrend.
Being contained by 94.68 previous high resistance, USDJPY pulled back from 94.35. However, the fall is more likely consolidation of uptrend from 91.60. Support is now at the lower boundary of the rising price channel on 4-hour chart. As long as the channel support holds, another rise is still possible and a break above 94.35 may signal resumption of uptrend, then next target would be at 96.00 or even 97.00.
No changed in our view, GBPUSD stayed in a trading range between 1.5191 and 1.5522 for several days. As long as 1.5191 support holds, we’d expect uptrend to resume and one more rise towards 1.5800 is possible after consolidation. Only fall below 1.5191 could indicate that the bounce from 1.4798 has completed at 1.5522 already.
USDCHF broke below the rising trend line, suggesting that a cycle top has been formed at 1.0849 level on 4-hour chart. Deeper decline is now in favor and next target would be at 1.0550-1.0600 area. Resistance is at 1.0849, only rise above this level could trigger another rise to test 1.0898 (Feb 19 high) resistance.