GBPUSD
GBPUSD is in consolidation to the down trend. The rise from 1.9676 extended to as high as 1.9967, further rise towards 2.0050 to reach the next cycle top on 4 hours chart can be expected. Near term support is at 1.9865 and key support is at the up trend line from 1.9676 to 1.9733, a break below the trend line support will signal the resumption of the down trend.
EURUSD
EURUSD bottomed at 1.3391. Further rise towards 1.3600 to reach the next cycle top on 4 hours chart can be expected. Near term support is at 1.3475, and key support is at 1.3391, only break below 1.3391 level will signal the resumption to the down trend.
USDCAD
No changed in our view, USDCAD is in down trend, the rise from 1.0548 is treated as consolidation to the down trend. More sharply fall towards 1.0450 can be expected after consolidation. Near term resistance is at the down trend line from 1.1167 to 1.0834, and as long as the trend line resistance holds, down trend will continue.
USDCHF
As expected, USDCHF broke below the previous low support at 1.2199 and reached as low as 1.2161, further fall towards 1.2125 can be expected in a couple of days. Near term resistance is at 1.2245, break above this level will signal the reversal to the down trend.
USDJPY
USDJPY broke below the up trend line from 117.59 (Apr 19 low) to 119.46 (May 11 low) and topped at 122.13 on 4 hours chart. The rise from 117.59 completed, further fall towards 120.00 to reach the next cycle bottom can be seen. Key resistance is at 122.18 (Jan 29 high), only break above this level will signal the resumption of the up trend.
AUDUSD
AUDUSD broke above previous high resistance at 0.8351 and reached as high as 0.8407. Short term top will be formed and sideways consolidation can be expected in the next several days. Near term support is at 0.8315, the pair will find support at this level.
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