USDCHF Analysis.
USDCHF remains in uptrend from 0.8569, the fall from 0.9148 is likely consolidation of uptrend. Support is now at the lower border of the price channel on 4-hour chart, as long as the channel support holds, uptrend could be expected to resume, and another rise towards 0.9314 previous high is still possible. However, a clear break below the channel will indicate that the rise from 0.8569 had completed at 0.9148 already, then the following downward move could bring price to 0.8000 zone.
EURUSD Analysis.
EURUSD’s rise from 1.3484 extended to as high as 1.3809, suggesting that a cycle bottom had been formed on 4-hour chart. Further rise to test 1.3866 key resistance is expected later today, a break above this level will indicate that the downward movement from 1.4246 had completed, then further rally could be seen to 1.4000-1.4100 area.
GBPUSD Analysis.
After touching 1.5877 support, GBPUSD rebounded strongly from 1.5868, suggesting that the consolidation started from 1.6164 had completed. Now the rise from 1.5868 would possibly be resumption of uptrend from 1.5272, further rise towards 1.6300 would likely be seen over the next several days.
USDCAD Analysis.
USDCAD’s fall from 1.0265 extended to as low as 1.0079. Key support is at 1.0055, as long as this level holds, the price action from 1.0222 is treated as consolidation of uptrend from 0.9891, and one more rise towards 1.0400 is still possible. However, a breakdown below 1.0055 will indicate that the rise from 0.9891 had completed at 1.0265 already, then further fall towards 0.9600 could be seen.
AUDUSD Analysis.
AUDUSD had formed a cycle bottom at 1.0053 on 4-hour chart. Further rise to test 1.0445 key resistance could be seen in a couple of days, a break above this level will indicate that the fall from 1.0751 had completed.
USDJPY Analysis.
USDJPY’s fall extended to as low as 77.04. Further fall is still possible in a couple of days, and next target would be at 76.50 area. Resistance is at the downtrend line on 4-hour chart, only a clear break above the trend line could indicate that the fall is complete.
