EURUSD Analysis.
EURUSD is testing the resistance of the price channel on 4-hour chart. As long as the channel resistance holds, the price action from 1.3212 could be treated as consolidation of downtrend from 1.4246, and one more fall towards 1.3146 (Oct 4 low) is still possible. On the upside, a clear break above the upper line of the channel will indicate that the downward movement from 1.4246 had completed at 1.3212 already, then the following upward move could bring price back to 1.3900 zone.
USDCHF Analysis.
USDCHF is in consolidation of uptrend from 0.8569. Range trading between 0.8950 and 0.9329 is expected over the next several days. Key support is now at 0.8950, only break below this level could trigger another fall towards 0.8400.
AUDUSD Analysis.
AUDUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 0.9663. As long as the trend line support holds, uptrend could be expected to continue, and next target would be at 1.0500 area, only a clear break below the trend line could signal completion of the current uptrend.
GBPUSD Analysis.
GBPUSD is testing the resistance of the price channel on 4-hour chart. As long as the channel resistance holds, the bounce from 1.5423 is treated as consolidation of downtrend from 1.6164, and another fall to test 1.5272 (Oct 6 low) support is still possible. On the other side, a clear break above the upper border of the channel will indicate that the fall from 1.6164 had completed at 1.5423 already, then the following upward movement could bring price to 1.6400 area.
USDCAD Analysis.
USDCAD remains in downtrend from 1.0523. Resistance is at 1.0250, as long as this level holds, downtrend could be expected to continue, and next target would be at 1.0000.
USDJPY Analysis.
USDJPY had formed a cycle top at 78.27 on 4-hour chart. Another fall would likely be seen after a minor consolidation, and next target would be at 76.80 area. Key resistance is at 78.27, only break above this level could trigger another rise towards 79.52 previous high.
