AUDUSD Analysis.
AUDUSD stays in a trading range between 1.0389 and 1.0581. As long as 1.0389 key support holds, the price action in the trading range is treated as consolidation of uptrend from 0.9704, another rise towards 1.1000 is still possible, however a break above 1.0581 is needed to confirm the resumption of uptrend. On the other side, a breakdown below 1.0389 will indicate that the uptrend from 0.9704 had completed at 1.0581 already, then deeper decline could be seen to 1.0100-1.0200 area.
USDCHF Analysis.
USDCHF broke below 0.8922 previous low, and the fall from 0.9339 extended to as low as 0.8896, suggesting that the long term downtrend from 1.1730 (Jun 1, 2010 high) has resumed. Further fall is expected in next several days, and next target would be at 0.8800 zone. Resistance is at 0.9000, as long as this level holds, downtrend will continue.
USDCAD Analysis.
USDCAD is forming a cycle top at 0.9669 on 4-hour chart. Key support is now at 0.9585, a breakdown below this level will confirm the cycle top, then another fall towards 0.9000 could be seen. Resistance is at 0.9669, only break above this level will indicate that lengthier consolidation of downtrend from 0.9973 is underway.
GBPUSD Analysis.
GBPUSD has formed a cycle bottom at 1.6227 level on 4-hour chart. Further rise towards 1.6427 previous high is expected later today, a break above this level will indicate that the uptrend from 1.5936 has resumed, then next target would be at 1.6600 zone.
EURUSD Analysis.
After a minor consolidation, EURUSD is now facing 1.4519 resistance, a break above this level will indicate that the uptrend from 1.4020 has resumed, then further rise towards 1.4700 could be seen. Support is at 1.4365, only break below this level will suggest that lengthier consolidation of uptrend is underway, then pullback to 1.4250-1.4300 area could be seen.
USDJPY Analysis.
USDJPY may be forming a cycle bottom at 82.96 on 4-hour chart. Bounce to 84.50-85.00 area would likely be seen in a couple of days. Support is at 82.96, only break below this level could trigger another fall to 82.50 zone.
