USDCHF Analysis.
USDCHF has formed a cycle bottom at 0.9066 on 4-hour chart. Range trading between 0.9066 and 0.9329 would likely be seen in a couple of days. Resistance is at 0.9329, a break above this level will signal resumption of uptrend from 0.8569, then further rise towards 1.0000 could be seen. Key support is now at 0.9066, only break below this level could indicate that the rise from 0.8569 is complete.
EURUSD Analysis.
EURUSD remains in downtrend from 1.4246, the bounce from 1.3212 is treated as consolidation of downtrend. Another fall to re-test 1.3146 (Oct 4 low) would likely be seen in a couple of days. Key resistance is now at 1.3546, only break above this level could indicate that the fall from 1.4246 is complete.
AUDUSD Analysis.
AUDUSD is facing the support of the upward trend line on 4-hour chart, as long as the trend line support holds, uptrend could be expected to continue, and next target would be at 1.0500. On the downside, a clear break below the trend line will indicate that a cycle top has been formed at 1.0327, and the rise from 0.9663 has completed, then pullback to 0.9900-1.0000 area could be seen.
GBPUSD Analysis.
Being contained by the upper border of the price channel on 4-hour chart, GBPUSD pulled back from 1.5779, suggesting that a cycle top has been formed. Deeper decline towards 1.5272 (Oct 6 low) would likely be seen in a couple of days. Key resistance is now at 1.5779, only break above this level could signal completion of the downtrend from 1.6164.
USDCAD Analysis.
USDCAD remains in downtrend from 1.0523, the rise from 1.0079 is treated as consolidation of downtrend. Further fall could be expected after consolidation and next target would be at 1.0000 area. Initial resistance is at 1.0250, as long as this level holds, downtrend will continue.
USDJPY Analysis.
USDJPY had formed a cycle bottom at 77.29 on 4-hour chart. Further rise to test 78.27 resistance is still possible later today, a break above this level could signal resumption of uptrend from 76.56, then further rise towards 79.00 could be seen. On the downside, as long as 78.27 resistance holds, another fall to 75.00 is still possible.
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