EURUSD Analysis.
EURUSD had formed a cycle bottom at 1.3609 on 4-hour chart. Further rally is still possible in a couple of days, and target would be at 1.3950-1.4000 area. However, the rise is treated as consolidation of downtrend from 1.4246, another fall towards 1.3400 could be seen after consolidation, and a breakdown below 1.3609 could signal resumption of downtrend.
GBPUSD Analysis.
GBPUSD had formed a cycle bottom at 1.5877 on 4-hour chart. Further rise to test 1.6164 previous high resistance is expected later today, a break above this level will indicate that the uptrend from 1.5272 has resumed, then next target would be at 1.6400 area. Key support is at 1.5877, only break below this level could indicate that lengthier consolidation of uptrend is underway.
USDCAD Analysis.
USDCAD is in uptrend from 0.9891, the price action from 1.0222 is treated as consolidation of uptrend. Lengthier consolidation would likely be seen in a couple of days, and pullback to 1.0000 area to reach next cycle bottom is possible.
AUDUSD Analysis.
AUDUSD is forming a cycle bottom at 1.0202 on 4-hour chart. Further rally is still possible in a couple of days, and target would be at 1.0550 area. Key support is at 1.0202, only break below this level could trigger another fall to 1.0000 zone.
USDCHF Analysis.
USDCHF is in uptrend from 0.8569, the price action from 0.8958 is treated as consolidation of uptrend. As long as 0.8958 resistance holds, lengthier consolidation of uptrend is still possible, and one more fall to 0.8700 area could be expected. On the upside, a break above 0.8958 could signal resumption of uptrend, then next target would be at 0.9150 area.
USDJPY Analysis.
USDJPY continued its sideways consolidation in a range between 77.68 and 78.96. Lengthier consolidation in the range is expected in a couple of days. Support is at 77.68, a breakdown below this level will target 77.00 zone.
