GBPUSD Analysis.
GBPUSD remains in uptrend from 1.5484 and the rise extended to as high as 1.5896 level. Support is at the uptrend line on 4-hour chart, now at 1.5733, as long as the trend line support holds, uptrend is expected to continue and next target would be at 1.6000 area. Key support is at 1.5719, only break below this level could indicate that the upward move from 1.5484 is complete.
USDJPY Analysis.
USDJPY failed to break above 84.40 previous high resistance and dropped sharply from 84.34 level, suggesting that a cycle top has been formed on 4-hour chart. Deeper decline is expected in a couple of days and target would be at 82.00 area.
EURUSD Analysis.
EURUSD has formed a cycle bottom at 1.3165 level on 4-hour chart. Now the rise from 1.3165 is treated as resumption of uptrend. Further rise is expected in a couple of days and target would be at 1.3600 area.
AUDUSD Analysis.
AUDUSD broke above 0.9964 resistance, suggesting that the uptrend from 0.9537 has resumed. Further rise towards 1.0182 previous high resistance could be seen in next several days. Support is at the uptrend line on 4-hour chart, and key support is at 0.9752 level.
USDCHF Analysis.
An unexpected sharp drop has brought price to as low as 0.9648 level. The pair is now in downtrend from 1.0066, deeper decline is still possible in a couple of days and next target would be at 0.9600 area. Resistance is at 0.9750, as long as this level holds, downtrend will continue.
USDCAD Analysis.
USDCAD stays in a trading range between 1.0002 and 1.0140. Another rise to test 1.0140 resistance would likely be seen later today, a break above this level could trigger another rise towards 1.0285 resistance.
