USDCHF moved sideways in a range between 0.7769 and 0.8014. Key support is at 0.7769, as long as this level holds, the price action in the range is treated as consolidation of uptrend, and one more rise to 0.8100 area is still possible. On the other side, a breakdown below 0.7769 could indicate that a cycle top has been formed at 0.8014 on 4-hour chart, and the rise from 0.7067 has completed, then the following downward move could bring price back to 0.7500 zone.
EURUSD formed a cycle bottom at 1.4259 on 4-hour chart. Another rise to re-test 1.4535 resistance is still possible later today, a break above this level will indicate that the longer term uptrend from 1.3837 has resumed, then next target would be at 1.4750 area. Support is at 1.4259, below this level could bring price to 1.4000 zone.
USDJPY broke below 76.29 previous low and reached as low as 75.96, suggesting that the long term downtrend has resumed. As long as 77.19 resistance holds, deeper decline could be expected and next target would be at 75.00 area. On the upside, a break above 77.19 will suggest that lengthier consolidation of downtrend is underway, then further rally to 79.00 could be seen.
GBPUSD’s rise from 1.6110 extended to as high as 1.6617. Further rise is still possible in a couple of days, and next target would be at 1.6700 area. Key support is now at 1.6423, a breakdown below this level could indicate that a cycle top has been formed at 1.6617, and the uptrend from 1.6110 has completed.
USDCAD continued its sideways movement in a range between 0.9765 and 1.0009. Lengthier consolidation in the range is still possible in a couple of days. Key support is at 0.9765, a breakdown below this level will confirm that the uptrend from 0.9406 had completed at 1.0009 already, then further fall towards 0.9406 previous low could be seen.
AUDUSD stays in a rising price channel on 4-hour chart, and remains in uptrend from 0.9927. As long as the channel support holds, we’d expect uptrend to continue, and another rise towards 1.1080 previous high is still possible.