EURUSD Analysis.
EURUSD trades in a narrow range above 1.2659, a breakdown below this level will indicate that the downtrend from 1.2917 has resumed, then another fall towards 1.2587 previous low could be seen. Resistance is at 1.2765, a break above this level will suggest that a cycle bottom had been formed at 1.2659 on 4-hour chart, then further rally towards 1.2917 resistance could be expected to follow.
USDCHF Analysis.
USDCHF remains in downtrend from 1.0624. Resistance is at the falling trend line from 1.0624 to 1.0450, as long as the trend line resistance holds, downtrend is expected to continue and another fall to 1.0000 is still possible.
GBPUSD Analysis.
GBPUSD formed a cycle bottom at 1.5296 level on 4-hour chart. Another rise towards 1.5597 resistance will more likely be seen later today. Key support is at 1.5296, only break below this level will indicate that the downtrend from 1.5997 has resumed, then deeper decline could be seen to 1.5200 area.
AUDUSD Analysis.
AUDUSD broke above 0.9221 previous high resistance and the upward move from 0.8771 extended to as high as 0.9276 level. Further rise is still possible in a couple of days and next target would be at 0.9350 area. Key support is at 0.9092, only break below this level could take price back to 89.00 zone.
USDCAD Analysis.
USDCAD broke below 1.0339 support, suggesting that the downward movement from 1.0672 has resumed. Deeper decline is still possible later today and next target would be at 1.0250 area. Resistance is at 1.0395, as long as this level holds, downtrend will continue.
USDJPY Analysis.
USDJPY is forming a cycle bottom at 83.34 level on 4-hour chart. Key resistance is now at 84.03, a break above this level will confirm the cycle bottom, then further rally could be seen to 85.00 area. Support is at 83.34, only break below this level could trigger another fall to 83.00 area.
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