USDCHF Analysis.
USDCHF trades in a range between 1.0394 and 1.0675. Another rise towards 1.0675 resistance is expected later today. As long as this level holds, the price action in the range is treated as consolidation of downtrend from 1.1730 (Jun 1 high), and another fall to 1.0300 is still possible, and a breakdown below 1.0394 could signal resumption of downtrend, only rise above 1.0675 could indicate that the fall from 1.1730 has completed at 1.0394 already.
USDJPY Analysis.
USDJPY is forming a cycle top at 87.71 level on 4-hour chart, key support is at 86.26, a breakdown below this level will confirm the cycle top and indicate that the downtrend from 94.98 (May 5 high) has resumed, then another fall towards 84.82 (2009 low) could be seen. Only rise above 87.71 could trigger another rise to 88.00-88.50 area.
EURUSD Analysis.
EURUSD remains in uptrend from 1.1876 (Jun 7 low) and the price action from 1.3028 is treated as consolidation of uptrend. Resistance is at 1.3028 followed by 1.3100, as long as 1.3100 resistance holds, another fall towards 1.2732 to reach next cycle bottom is possible.
USDCAD Analysis.
USDCAD continues its downward movement from 1.0585 and the fall extends to as low as 1.0302 level. Deeper decline to test 1.0276 key support is still possible later today, a break below this level will target 1.0200 area. Resistance is at 1.0390, only rise above this level could turn price back towards 1.0585 key resistance.
GBPUSD Analysis.
GBPUSD broke above 1.5471 resistance and reached as high as 1.5519, further rise towards 1.5522 (Apr 15 high) long term key resistance is still possible later today, a break above this level will indicate that the downtrend from 1.7042 (2009 high) is complete. Initial support is at 1.5445 followed by 1.5400, as long as these levels hold, uptrend from 1.5124 will continue.
AUDUSD Analysis.
AUDUSD’s uptrend from 0.8315 extends to as high as 0.9035 level. Support is now at 89.65 followed by 0.8900, as long as these levels hold, uptrend could be expected to continue and next target would be at 91.00 area.
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