USDCHF Analysis.
USDCHF continues its upward movement from 1.0923 and the rise extends to as high as 1.1620 level. As long as the trend line support holds, further rally is still possible and next target would be at 1.1800 area. However, a clear break below the trend line support will indicate that the rise from 1.0923 has completed, then pullback to 1.1300-1.1400 area could be seen.
USDCAD Analysis.
USDCAD formed a cycle top at 1.0749 level on 4-hour chart. Sideways movement in a range between 1.0533 and 1.0749 is expected. As long as 1.0533 support holds, the price action from 1.0749 is treated as consolidation of uptrend from 1.0110, and one more rise towards 1.0850 resistance is still possible, however, a breakdown below 1.0533 will indicate that the rise from 1.0110 has completed at 1.0749 already, then another fall towards 0.9930 (Apr 21 low) could be seen.
EURUSD Analysis.
As expected, EURUSD formed a cycle top at 1.2671 level on 4-hour chart. Range trading between 1.2144 and 1.2671 is expected in a couple of days, and another rise towards 1.3000 would more likely be seen after consolidation.
AUDUSD Analysis.
AUDUSD traded in a narrow range below 0.8365. Another rise towards 0.8450 to reach next cycle top on 4-hour chart is still possible later today. As long as 1.8450 resistance holds, the bounce from 0.8071 is treated as consolidation of downtrend from 0.9077, and another fall to 0.7800 is still possible after consolidation.
GBPUSD Analysis.
GBPUSD might be forming a cycle top at 1.4527 level on 4-hour chart. Another fall to 1.4200 area would more likely be seen later today. Resistance is now at 1.4527, only rise above this level could bring price back to 1.4800 area.
USDJPY Analysis.
USDJPY has formed a cycle bottom at 88.98 level on 4-hour chart. Bounce to 91.00 would more likely be seen in a couple of days, above this level could trigger another rally towards 94.98 previous high.
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