GBPUSD Analysis.
GBPUSD formed a short term cycle top at 1.9737 on 4-hour chart. Further pullback to test the previous low support at 1.9386 is still possible in a couple of days. Near term resistance is at 1.9737, only break of this level will signal the resumption of the up trend.
USDCHF Analysis.
USDCHF broke below 1.0932 key support, and formed a short term cycle top on 4-hour chart. The rise from 1.0729 completed at 1.1105 level. Further pullback to test the previous low support at 1.0729 is expected after consolidation. Key resistance is at 1.1105, only break of this level will signal the resumption of the up trend.
USDJPY Analysis.
USDJPY is in up trend. The fall from 108.59 is treated as consolidation to the up trend. Further rise towards 110.00 area is still possible after consolidation. Near term support is at 106.98, as long as this support holds, up trend will continue.
AUDUSD Analysis.
As expected, AUDUSD breaks above 0.9100 previous high and reaches as high as 0.9129 level. Further rise to 0.9300 area is still possible in the next several days. Near term support is at 0.9000 and followed by 0.8922, as long as 0.8922 support holds, up trend will continue.
EURUSD Analysis.
EURUSD is in up trend, further rally towards 1.4800 area to reach the next cycle top on 4-hour chart is still possible in a couple of days. Near term support is at the up trend line, as long as the trend line support holds, we’d expect up trend to continue. Key support is at 1.4438, only break of this level will signal the resumption of the down trend.
USDCAD Analysis.
USDCAD broke above the key resistance at 1.0042, and formed a short term cycle bottom at 0.9920 on 4-hour chart. Further rise to 1.0300 area could be seen in the next several days. Near term support is at 0.9920, only break of this level will signal the reversal to the up trend.
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