AUDUSD Analysis.
AUDUSD broke below 1.0500 support, suggesting that a cycle top has been formed at 1.0751 on 4-hour chart. Support is now at the uptrend line, as long as the trend line support holds, the fall from 1.0751 is treated as consolidation of uptrend from 0.9390, and another rise towards 1.0900 is still possible after consolidation. However, a clear break below the trend line will indicate that the rise from 0.9390 had completed at 1.0751 already, then the following downward movement could bring price back to 1.0000 area.
USDCHF Analysis.
USDCHF broke above the downtrend line on 4-hour chart, suggesting that a cycle bottom has been formed at 0.8569, and the fall from 0.9082 has completed. Further rally could be seen later today, and target would be at 0.8850-0.8900 area. Key support is now at 0.8569, only break below this level could signal resumption of downtrend.
USDJPY Analysis.
An unexpected rise had brought price to as high as 79.52, suggesting that the downtrend from 85.51 had completed at 75.57 already. Range trading between 77.00 and 79.52 would likely be seen over the next several days.
EURUSD Analysis.
EURUSD broke below the uptrend line on 4-hour chart, suggesting that a cycle top had been formed at 1.4246, and the rise from 1.3146 had completed. Pullback to 1.3500 area would likely be seen over the next several days.
GBPUSD Analysis.
GBPUSD stays in a rising price channel on 4-hour chart, and remains in uptrend from 1.5272. As long as the channel support holds, uptrend could be expected to continue, and next target would be at 1.6250-1.6300 area. On the downside, a clear break below the channel will indicate that a cycle top has been formed at 1.6164, then consolidation of uptrend could be seen, and the trading range would be between 1.5891 and 1.6164.
USDCAD Analysis.
USDCAD remains in downtrend from 1.0656, the rise from 0.9891 is treated as consolidation of downtrend. Another fall towards 0.9800 is still possible, and a breakdown below 0.9891 could signal resumption of downtrend.
