USDCHF Analysis.
USDCHF stays in a trading range between 0.9201 and 0.9368 for several days. Deeper decline to test 0.9201 key support could be expected later today, a break below this level will indicate that the downtrend from 0.9774 has resumed, then next target would be at 0.9000 zone. Resistance is at 0.9315 followed at 0.9368, only break above these levels could indicate that lengthier consolidation of downtrend is underway, then further rally could be seen to 0.9400-0.9450 area.
GBPUSD Analysis.
GBPUSD had formed a cycle bottom at 1.5977 level on 4-hour chart. Further rise is still possible later today and next target would be at 1.6250 area. Initial support is at 1.6120, as long as this level holds, uptrend from 1.5977 could be expected to continue.
EURUSD Analysis.
EURUSD had formed a cycle bottom at 1.3752 level on 4-hour chart. Further rise to test 1.4035 previous high resistance could be seen later today, a break above this level will indicate that the uptrend from 1.2874 (Jan 10 low) has resumed, then next target would be at 1.4150 area.
AUDUSD Analysis.
AUDUSD keeps on moving sideways in a range between 0.9943 and 1.0201. The sideways movement is treated as consolidation of uptrend from 0.8066 (May 25, 2010 low), another rise to 1.0400 would likely be seen after consolidation, however, a break above 1.0201 is needed to confirm the resumption of uptrend.
USDJPY Analysis.
USDJPY formed a cycle bottom at 81.20 level on 4-hour chart. Range trading between 81.20 and 82.50 would likely be seen in a couple of days. Key support is at 81.13, a break below this level could signal resumption of downtrend, then next target would be at 80.00 zone.
USDCAD Analysis.
USDCAD formed a cycle top at 0.9801 level on 4-hour chart. Another fall towards 0.9667 could be expected later today, a breakdown below this level will indicate that the downtrend from 1.0057 has resumed, then next target would be at 0.9600 area.
