AUDUSD Analysis.
As expected, AUDUSD formed a short term cycle top at 0.9541 on 4-hour chart. Further fall to test 0.9271 key support is still possible, a break below this level will indicate that the up trend from 0.8953 (Mar 20 low) has completed and deeper decline to 0.9000 area is expected to follow. Key resistance is now at 0.9541, only rise above this level will signal the resumption of the up trend.
EURUSD Analysis.
EURUSD breaks below 1.5671 key support. The rise from 1.5342 (Mar 24 low) completed at 1.6019 level. Further fall to test 1.5342 is possible after consolidation. Key resistance is now located at 1.6019, only break of this level will signal the resumption of the up trend.
USDCAD Analysis.
USDCAD is in correction to the down trend and the fall from 1.0214 could possibly be resumption of the down trend. Deeper decline to retest 0.9987 is expected in the next several days. Near term resistance is at the down trend line from 1.0326 (Apr 1 high) to 1.0273 and key resistance is at 1.0273 level.
GBPUSD Analysis.
GBPUSD breaks below 1.9745 support and reaches as low as 1.9685. Further fall to test 1.9599 previous low support is still possible later today. Near term resistance is at 1.9875, as long as this resistance holds, down trend will continue.
USDCHF Analysis.
As expected, USDCHF formed a short term cycle bottom at 0.9995 on 4-hour chart. Further rise to 1.0500 area to reach the next cycle top is still possible next week. Initial support is at 1.0165, as long as this support holds, up trend will continue.
USDJPY Analysis.
USDJPY is testing 104.64 resistance, a break above this level will signal the resumption of the up trend and target will be expected at 106.00 area. Initial support is at 102.67 followed by the price channel.
More long term forex analysis.
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