EURUSD Analysis.
EURUSD stays in a trading range between 1.3698 and 1.4152. Another rise to test 1.4152 key resistance is still possible later today, a break above this level will indicate that the uptrend from 1.2587 has resumed, then further rise towards 1.4500 could be seen. Support is at 1.3860, below this level could bring price back towards 1.3698 key support.
AUDUSD Analysis.
AUDUSD stays in a trading range between 0.9661 and 0.9998. Key resistance of 0.9998 is expected to be tested later today, a break above this level could indicate that the uptrend from 0.8771 has resumed, then another rise towards 1.0100-1.0200 could be seen to follow. Support is at 0.9740, a breakdown below this level could trigger another fall to 0.9400 area.
USDCHF Analysis.
USDCHF’s bounce from 0.9463 extended to as high as 0.9804 level. Further rally is still possible later today and next target would be at 0.9850-0.9900 area. Support is at 0.9690 followed by 0.9570, only break below 0.9570 could trigger another fall to 0.9200 area.
USDCAD Analysis.
USDCAD formed a cycle top at 1.0372 level on 4-hour chart. Another fall to 1.0130 area is expected in a couple of days. However, the fall from 1.0372 is treated as correction of uptrend from 0.9979, the uptrend could be expected to resume before breaking below 0.9979 level.
GBPUSD Analysis.
GBPUSD is in downtrend from 1.6105. Another fall towards 1.5400 would more likely be seen in next several days. Key resistance is now at 1.5877, only break above this level could indicate that the downward move from 1.6105 has completed at 1.5649 already, and the uptrend from 1.5296 has resumed.
USDJPY Analysis.
No changed in our view, USDJPY stays in a narrow trading range between 80.84 and 81.91. The price action in the range is treated as consolidation of downtrend from 85.92. Another fall towards 79.75 (1995 low) would more likely be seen later today.
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