USDCAD Analysis.
USDCAD failed to break above 1.0676 (Jul 6 high) resistance and formed a cycle top at 1.0666. Pullback towards 1.0400 area would more likely be seen in next several days. As long as 1.2400 support holds, the fall from 1.0666 could be treated as consolidation of uptrend from 1.0107, one more rise to 1.0750 is still possible, however, below 1.0400 will indicate that the rise from 1.0107 has completed at 1.0666 already, then deeper decline could be seen to 1.0200 zone.
USDCHF Analysis.
USDCHF’s fall from 1.0450 extended to as low as 1.0222. Resistance is now at 1.0330, as long as this level holds, downtrend is expected to continue, and next target would be at 1.0100-1.0150 area.
AUDUSD Analysis.
After touching the falling trend line from 0.9079 to 0.8981, AUDUSD pulled back from 0.8917. Now the fall from 0.8917 could possibly be resumption of downtrend, another fall to 87.00 is possible. Key resistance is at 0.8917, a break above this level could indicate that the fall from 0.9079 is complete, then the following uptrend could bring price back towards 0.9221 previous high.
GBPUSD Analysis.
No changed our view, GBPUSD remains in downtrend from 1.5997 and the bounce from 1.5372 is treated as consolidation of downtrend. Another fall is still possible after consolidation and next target would be at 1.5300 area. Key resistance is at 1.5712, only break above this level could indicate that the fall from 1.5997 is complete.
EURUSD Analysis.
EURUSD remains in downtrend from 1.3333, and the bounce from 1.2587 is treated as consolidation of downtrend. Another fall is possible after consolidation and next target would be at 1.2500 area.
USDJPY Analysis.
USDJPY is forming a cycle bottom at 83.62 level on 4-hour chart. Key resistance is now at 84.88, a break above this level will conform the cycle bottom, then further rally could be seen to 85.50 area. Support is at 83.62, only break below this level could trigger another fall to 83.00 zone.
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