GBPUSD is forming a sideways consolidation in a range between 1.9730 and 2.0193. As long as 2.0193 resistance holds, we’d expect down trend to resume. A break below 1.9730 level will signal the resumption of the long term down trend, and then deeper decline to test 1.9337 (Jan 22 low) could be seen.
USDJPY is forming a sideways consolidation in a range between 101.45 and 102.94. As long as 101.45 support holds, we’d expect up trend to resume after consolidation and further rise to 105.00 area to reach the next short term cycle top is possible.
AUDUSD breaks above 0.9252 previous high resistance and reaches as high as 0.9284. Further rally to test 0.9330 area is still possible in a couple of days. Near term support is at the up trend line, as long as the trend line support holds, up trend will continue.
EURUSD is forming a sideways consolidation in a range between 1.5510 and 1.5902. Fall below 1.5510 may turn price back to retest 1.5342 previous low support. Only rise above 1.5902 (Mar 17 high) may indicate the sideways consolidation from 1.5902 has completed and long term up trend has resumed.
No changed in our view, USDCHF is forming a sideways consolidation in a range between 0.9870 and 1.0249. Further rise to 1.0500 area to reach the next short term cycle top on 4-hour chart is still possible after consolidation. Key support is at 0.9870, only break below this level will turn price back to 0.9700 area.
USDCAD is now in down trend. Rebound from 1.0018 is treated as correction to the down trend. Deeper decline to retest 0.9709 (Feb 28 low) is expected after correction, and a break of 1.0018 level will signal the resumption of the down trend.