AUDUSD stays in a downward price channel on 4-hour chart, and remains in downtrend from 1.0378. As long as the channel resistance holds, downtrend could be expected to resume, and another fall towards 0.9663 is still possible. Key resistance is now at 1.0026, a break above this level will indicate that lengthier consolidation of downtrend is underway, then bounce to 1.0100 area could be seen.
USDCHF is in uptrend from 0.8569, the fall from 0.9546 is treated as consolidation of uptrend. Key support is at the lower border of the price channel on 4-hour chart, as long as the channel support holds, we’d expect uptrend to resume, and another rise towards 1.0000 is possible. Key resistance is at 0.9546, a break above this level could signal resumption of uptrend.
USDCAD moved sideways in a range between 1.0297 and 1.0422. The price action in the range is treated as consolidation of uptrend from 1.0051, and another rise to test 1.0523 resistance would likely be seen after consolidation. Initial support is at 1.0297, below this level will indicate that lengthier consolidation of uptrend is underway, then the pair will find next support around 1.0200.
After breaking below 1.5423 support, GBPUSD rebounded from 1.5209. The rise looked like consolidation of downtrend from 1.5779, another fall towards 1.5272 (Oct 6 low) could be expected after consolidation.
No changed in our view, EURUSD is forming a cycle bottom at 1.2946 on 4-hour chart, and the rise is treated as consolidation of downtrend from 1.3546. Another fall towards 1.2500 is still possible after consolidation, and a breakdown below 1.2946 could signal resumption of downtrend.
USDJPY is facing 78.27 again, a break above this level will signal resumption of uptrend from 76.56, then further rise to 79.00 area could be seen. Support is at 77.60, below this level could bring price back to 76.50 zone.