USDCAD continues its downward move from 1.0372 and the fall extended to as low as 1.0009 level. Resistance is at the downtrend line on 4-hour chart, as long as the trend line resistance holds, downtrend is expected to continue and one more fall towards 0.9979 previous low support is still possible, only a clear break above the trend line resistance could indicate that a cycle bottom is being formed.
USDJPY stays in a trading range between 80.30 and 81.98. The price action in the trading range is more likely consolidation of downtrend from 85.92. Deeper decline to test 80.30 support is expected later today, a breakdown below this level could trigger another fall towards 79.75 (1995 low). Key resistance is at 81.98, only break above this level could indicate that the fall from 85.92 is complete.
GBPUSD continues its upward move from 1.5649 and the rise extended to as high as 1.6298 level. Support is at the lower boundary of the rising price channel on 4-hour chart, now at 1.6110, as long as the channel support holds, uptrend is expected to continue and next target would be at 1.6500 area.
EURUSD’s upward move extended further to as high as 1.4281 level. Support is now at 1.4095, as long as this level holds, uptrend is expected to continue and next target would be at 1.4400-1.4500 area.
USDCHF drops sharply to as low as 0.9562 level. Deeper decline towards 0.9463 previous low is still possible in a couple of days. Resistance is at 0.9635 followed by 0.9685, as long as these levels hold, downtrend from 0.9971 will continue.
AUDUSD has reached the upper border of the rising price channel on 4-hour chart. Minor consolidation of uptrend is expected later today. However, uptrend is expected to resume after touching the lower border of the channel and another rise towards 1.0500 is still possible.