USDCHF’s rise extended to as high as 0.9234 last week. Support remains at the lower line of the price channel on 4-hour chart, as long as the channel support holds, uptrend from 0.8569 could be expected to continue, and one more rise to test 0.9314 previous high resistance is still possible. On the other side, a clear break below the channel will indicate that a cycle top has been formed at 0.9234, and the rise has completed, then the following downward move could bring price back to 0.8000 zone.
AUDUSD’s downward movement extended to as low as 0.9942. Key resistance is now at 1.0106, as long as this level holds, downtrend could be expected to continue, and next target would be at 0.9800 zone. However, a break above 1.0106 will indicate that a cycle bottom is being formed on 4-hour chart, then further rally to 1.0200 could be seen.
USDCAD remains in uptrend from 0.9891. Further rise is still possible in a couple of days, and next target would be at 1.0400 area. Support is at 1.0170, as long as this level holds, uptrend will continue.
EURUSD remains in downtrend from 1.4246, the bounce from 1.3421 is likely consolidation of downtrend. Another fall is expected after consolidation, and next target would be at 1.3300 area. Resistance is at 1.3614, only break above this level could indicate that a cycle bottom has been formed at 1.3421 on 4-hour chart, then further rally could be seen to 1.3700 area.
GBPUSD’s fall from 1.6164 extended to as low as 1.5691 last week, the subsequent bounce is likely consolidation of downtrend. Further fall towards 1.5600 could be seen after consolidation, and a breakdown below 1.5691 could signal resumption of downtrend.
USDJPY stays within a downward price channel on 4-hour chart, and remains in downtrend. Resistance is at the upper border of the price channel, as long as the channel resistance holds, downtrend could be expected to continue, and next target would be at 76.00 area, only a clear break above the upper line of the channel could indicate that the fall had completed.