USDCHF Analysis.
USDCHF remains in uptrend from 0.9328, and the pullback from 0.9660 is likely consolidation of uptrend. Support is at 0.9523, as long as this level holds, uptrend could be expected to continue and next target would be at 0.9700 area. However, a breakdown below 0.9523 support will indicate that a cycle top had been formed at 0.9660 level on 4-hour chart and the rise from 0.9328 had completed, then deeper decline could be seen to 0.9400 zone.
GBPUSD Analysis.
GBPUSD is facing the support of the rising trend line on 4-hour chart. Rebound would likely be seen after touching the trend line support and rang trading between 1.6000 and 1.6277 is expected in a couple of days. Only a clear break below the trend line support could indicate that the uptrend from 1.5344 (Dec 28, 2010 low) had completed at 1.6277 already, then the following downward move could bring price back to 1.5600 area.
USDJPY Analysis.
USDJPY remains in short term uptrend from 81.13. Further rise to 83.00 is still possible later today. Initial support is at 82.00, only break below this level could indicate that the bounce from 81.13 is complete, then pullback to 81.50 area could be seen.
AUDUSD Analysis.
AUDUSD broke below 1.0103 key support, suggesting that a cycle top had been formed at 1.0199 level on 4-hour chart. Deeper decline could be seen in a couple of days and target would be at 1.0000 area. Key resistance is at 1.0199, only break above this level could trigger another rise to 1.0400 area.
USDCAD Analysis.
USDCAD had formed a cycle bottom at 0.9831 level on 4-hour chart. Range trading between 0.9831 and 1.0057 would likely be seen, and further rise to 1.030 area is expected in a couple of days.
EURUSD Analysis.
EURUSD has formed a cycle bottom at 1.3508 level on 4-hour chart. However, the rise from 1.3508 is treated as correction of downtrend from 1.3861, as long as 1.3861 key resistance holds, another fall to 1.3400 is still possible.
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