AUDUSD Analysis.
AUDUSD remains in downtrend from 1.0255 and the fall extends to as low as 0.9856 level. Deeper decline is still possible in a couple of days and next target would be at 0.9700-0.9750 area. Resistance is at 0.9991, only break above this level could indicate that a cycle bottom has been formed on 4-hour chart, then sideways consolidation could be seen.
EURUSD Analysis.
EURUSD may be forming a cycle bottom at 1.2874 level on 4-hour chart. Range trading between 1.2874 and 1.3150 would likely be seen in a couple of days. Support is at 1.2874, below this level could indicate that the downtrend from 1.3433 has resumed, then next target would be at 1.2700 area.
USDCHF Analysis.
USDCHF may be forming a cycle top at 0.9726 level on 4-hour chart. Key support is at 0.9604, a break below this level will confirm the cycle top, then range trading between 0.9500 and 0.9726 could be seen to follow. Resistance is at 0.9726, only break above this level could trigger another rise to 0.9800 zone.
USDJPY Analysis.
USDJPY has formed a cycle top at 83.68 level on 4-hour chart. The price action from 83.68 is treated as consolidation of uptrend. Range trading between 82.00 and 83.68 is expected in a couple of days. Resistance is at 83.68, above this level will indicate that the consolidation has completed, then another rise to test 84.49 previous high resistance could be seen.
GBPUSD Analysis.
GBPUSD remains in sideways consolidation. Range trading between 1.5344 and 1.5664 could still be seen in a couple of days. As long as 1.5664 key resistance holds, downtrend is expected to resume 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 Analysis.
USDCAD continues its sideways movement in a 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.
