AUDUSD Analysis.
AUDUSD’s upward move from 0.9390 extended to as high as 1.0014. Support is now at 0.9850 followed by 0.9800, as long as these levels hold, uptrend could be expected to continue, and next target would be at 1.0100-1.0150 area. However, a breakdown below 0.9800 will indicate that a cycle top has been formed on 4-hour chart, and the rise from 0.9390 is complete.
EURUSD Analysis.
EURUSD broke above the downtrend line on 4-hour chart, suggesting that lengthier consolidation of downtrend from 1.4548 is underway. Further rally is still possible later today, and next target would be at 1.3800 area. Key support is at 1.3450, only break below this level could indicate that a cycle top has been formed, and the rise from 1.3146 is complete.
USDJPY Analysis.
USDJPY had lost momentum and moved sideways in a range between 75.96 and 77.85 for several weeks. Another fall to re-test 75.96 key support would likely be seen after consolidation, a breakdown below this level will signal resumption of the longer term downtrend from 85.51.
GBPUSD Analysis.
GBPUSD is facing 1.5715 resistance, a break above this level will target 1.5800 zone. Key support is at 1.5550, only break below this level could indicate that a cycle top has been formed and the rise from 1.5272 is complete.
USDCHF Analysis.
USDCHF broke below the uptrend line on 4-hour chart, suggesting that lengthier consolidation of uptrend from 0.7711 is underway. Range trading between 0.8917 and 0.9314 would likely be seen in a couple of days.
USDCAD Analysis.
USDCAD may be forming a cycle bottom at 1.0235 on 4-hour chart. Range trading between 1.0235 and 1.0656 would likely be seen in a couple of days. Initial support is at 1.0235, only break below this level could trigger another fall towards 1.0100.
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