USDCHF is forming a short term cycle bottom at 0.9887, key resistance is at 1.0090, a break above this level will confirm the cycle bottom, and further rise to test 1.0216 is expected to follow.
USDCAD is moving to the next cycle top on 4-hour chart. Key support is now located at 1.0132, a break of this level will confirm the cycle top. Near term resistance is at 1.0326 and long term resistance is at 1.0378 (Jan 22 high), only break above this level will signal the resumption of the long term up trend.
USDJPY might be forming a short term cycle bottom at 100.02 level. Key resistance is now at 102.25, a break about this level will confirm the cycle bottom and further rise to 105.00 area to reach the next cycle top is expected to follow.
GBPUSD is testing 1.9650 support. Deeper decline to test 1.9337 (Jan 22 low) could then be seen if 1.9650 support gives way. Near term resistance is at 1.9841, only break of this level will indicate lengthier correction to the down trend.
AUDUSD breaks below 0.9261 key support and formed a short term cycle top at 0.9346 level. Deeper decline to retest 0.9031 is expected in the next several days. Near term resistance is at 0.9346, only break above this level will signal the resumption of the up trend.
EURUSD formed a short term cycle top at 1.5913 level on 4-hour chart. Pullback to the up trend line from 1.5342 to 1.5510 is possible later today. Long term key support is at 1.5342, a break below this level will signal the reversal to the long term up trend.
More long term forex analysis.
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