USDCHF’s upward movement extended to as high as 0.9707. Support is at 0.9600, as long as this level holds, uptrend is expected to continue and next target would be at 0.9800 area. However, a breakdown below 0.9600 will indicate that a cycle top has been formed at 0.9707 level on 4-hour chart, then pullback to 0.9500-0.9550 area could be seen.
AUDUSD’s downward move from 1.0255 extends to as low as 0.9918. Resistance levels are at 0.9975 and 1.0025, as long as these levels holds, downtrend is expected to continue and next target would be at 0.9800 area.
EURUSD breaks below 1.2969 support. Further fall is still possible later today and next target would be at 1.2800 area. Resistance is at 1.3080, as long as this level holds, downtrend could be expected to continue.
USDJPY remains in uptrend from 80.93, as long as 82.88 support holds, uptrend is expected to continue and another rise towards 84.49 previous high is still possible. However, below 82.88 will suggest that a cycle top has been formed on 4-hour chart, then consolidation of uptrend could be seen.
No changed in our view, GBPUSD continues its sideways consolidation. Range trading between 1.5344 and 1.5664 is still in favor in a couple of days. As long as 1.5664 key resistance holds, downtrend is expected to resume after consolidation and one more fall to test 1.5296 (Sep 7 low) support is still possible, a break below this level will confirm that the long term uptrend from 1.4230 (May 20 low) is complete.
USDCAD consolidated in a trading range between 0.9888 and 1.0033. Support is at 0.9888, below this level will indicate that the downtrend from 1.0207 has resumed, then the next target would be at 0.9800 area. Resistance is at 1.0033, above this level could target 1.0100 area.