USDCHF Analysis.
USDCHF stays above a rising trend line on 4-hour chart. As long as the trend line support holds, uptrend could be expected to continue and next target would be at 0.9800-0.9850 area. However, a clear break below the trend line could indicate that a cycle top is being formed, and the rise from 0.9328 is complete.
GBPUSD Analysis.
GBPUSD broke below the rising trend line on 4-hour chart, suggesting that lengthier consolidation of uptrend from 1.5344 (Dec 28, 2010 low) is underway. Rang trading between 1.5800 and 1.6277 would likely be seen in next several days.
USDJPY Analysis.
USDJPY remains in short term uptrend from 81.13, the fall from 83.67 is likely consolidation of uptrend. Another rise is still possible after consolidation and next target would be at 84.00 area. Support is at 83.00, as long as this level holds, uptrend will continue.
AUDUSD Analysis.
AUDUSD is in downtrend from 1.0199, the bounce from 0.9960 is treated as consolidation of downtrend. Resistance is at 1.0100, as long as this level holds, downtrend could be expected to continue and next target would be at 0.9850-0.9900 area.
USDCAD Analysis.
USDCAD had formed a cycle top at 0.9987 level on 4-hour chart. Now the fall from 0.9987 would possibly be resumption of downtrend. Deeper decline to test 0.9831 could be seen later today, a breakdown below this level will target 0.9700 area.
EURUSD Analysis.
EURUSD broke below 1.3508 support last week. Deeper decline is still possible later today and next target would be at 1.3300-1.3400 area. Initial resistance is at 1.3575, only break above this level could bring price back to 1.3700 zone.
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