AUDUSD Analysis.
AUDUSD broke below the uptrend line on 4-hour chart, suggesting that a cycle top is being formed. Deeper decline would likely be seen in a couple of days, and target would be at 0.9900 zone. Resistance is at 1.0371, only break above this level could trigger another rise to 1.0500.
EURUSD Analysis.
EURUSD is forming a cycle top at 1.3914 on 4-hour chart. Key support is located at 1.3685, a breakdown below this level will confirm the cycle top, then deeper decline could be seen to 1.3500 area. Resistance is at 1.3914, only break above this level could signal resumption of uptrend.
USDCHF Analysis.
USDCHF remains in downtrend from 0.9314, and the fall extended to as low as 0.8881. Deeper decline is still possible after a minor consolidation, and next target would be at 0.8800 area. On the upside, a break above 0.9040 resistance will suggest that a cycle bottom had been formed at 0.8881 on 4-hour chart, then another rise towards 0.9314 previous high could be seen.
USDJPY Analysis.
USDJPY failed to break above 77.48 resistance and pulled back to as low as 76.62, suggesting that lengthier sideways movement is underway, the trading range would be between 76.09 and 77.48.
GBPUSD Analysis.
GBPUSD broke below the uptrend line on 4-hour chart, suggesting that a cycle top is being formed at 1.5851 on 4-hour chart. Pullback to 1.5500 area would likely be seen in a couple of days. Resistance is at 1.5851, only break above this level could trigger another rise towards 1.6000.
USDCAD Analysis.
USDCAD is forming a cycle bottom at 1.0043 on 4-hour chart. Further rally would likely be seen later today, a break above 1.0275 key resistance will confirm the cycle bottom. However, as long as 1.0275 resistance holds, one more fall towards the uptrend line from 0.9406 to 0.9779 is still possible.
