EURUSD continues its downward move from 1.4281, and the fall extends to as low as 1.3601 level. Resistance is at 1.3825, as long as this level holds, downtrend is expected to continue and next target would be at 1.3500 area. However, a break above 1.3825 resistance will indicate that a cycle bottom has been formed on 4-hour chart and the fall from 1.4281 has completed.
USDCAD continues its sideways movement in a range between 0.9979 and 1.0093. The price action in the trading range is treated as consolidation of downtrend from 1.0372. Downtrend is expected to resume after touching the upper border of the falling price channel on 4-hour chart.
USDJPY may be forming a cycle top at 82.79 level on 4-hour chart, key support is now at 82.03, a breakdown below this level could confirm the cycle top, then another fall towards 80.30 previous low could be seen. Resistance is at 82.79, only break above this level could trigger another rise to 83.50-84.00 area.
GBPUSD formed a cycle bottom at 1.5953 level on 4-hour chart. Range trading between 1.5953 and 1.6298 is expected in a couple of days. Resistance is at 1.6298, a break above this level could indicate that the longer term uptrend from 1.5296 (Sep 7 low) has resumed, then another rise towards 1.6500 could be seen.
USDCHF’s bounce from 0.9548 extended further to as high as 0.9785. Support is at 0.9670, as long as this level holds, upward movement is expected to continue and next target would be at 0.9850 area. However, a break below 0.9670 will indicate that the bounce from 0.9548 is complete, then another fall towards 0.9463 could be seen to follow.
AUDUSD’s fall from 1.0182 extends to as low as 0.9942. Deeper decline is still possible later today and next target would be at 0.9900 area. However, the fall from 1.0182 is more likely consolidation of uptrend, another rise could be expected after consolidation and a break above 1.0182 could signal resumption of uptrend.