AUDUSD may be forming a cycle bottom at 1.0148 on 4-hour chart. Further rally to test 1.0398 key resistance would likely be seen, a break above this level will indicate that the fall from 1.0764 has completed at 1.0148 already, then the following upward movement could bring price to 1.0800-1.0900 area. However, as long as 1.0398 resistance holds, one more fall towards 0.9927 is still possible.
GBPUSD is facing the resistance of the downtrend line on 4-hour chart, a clear break above the trend line will suggest that the fall from 1.6453 has completed at 1.5633 already, then further rally to test 1.5868 key resistance could be seen. On the downside, as long as the trend line resistance holds, downtrend could be expected to resume, and another fall to 1.5500 is still possible.
USDCAD’s upward move from 0.9779 extended to as high as 0.9948. Further rise to test 1.0025 resistance could be seen in a couple of days, a break above this level could signal resumption of the longer term uptrend from 0.9406, then the following upward move could bring price to 1.0200 zone.
USDCHF is facing 0.8925 resistance, above this level will signal resumption of the uptrend from 0.7067. However, as long as 0.8925 resistance holds, lengthier consolidation of uptrend is still possible to continue, and one more fall to 0.8600 area is still possible.
No changed in our view, EURUSD is forming a sideways consolidation in a rang between 1.3499 and 1.3936. As long as 1.3936 resistance holds, downtrend could be expected to resume after consolidation, and a breakdown below 1.3499 could signal resumption of downtrend.
USDJPY stays in a trading range between 75.96 and 77.85. The price action in the range is treated as consolidation of the longer term downtrend from 85.51 (Apr 6 high). The pair is now in short term downtrend from 77.85, further fall to test 75.96 previous low support could be seen.