USDCHF Analysis.
USDCHF had formed a cycle bottom at 0.9244 on 4-hour chart. Now the rise from 0.9244 would possibly be resumption of uptrend from 0.8569 (Oct 27 low), further rise to test 0.9546 resistance would likely be seen later today, a break above this level will confirm resumption of the uptrend. Key support is at 0.9244, only break below this level could indicate that the uptrend from 0.8569 has competed at 0.9546 already, then the following downward move could bring price back to 0.8700-0.8800 area.
EURUSD Analysis.
EURUSD had formed a cycle top at 1.3196 on 4-hour chart. Another fall to test 1.2946 support could be expected later today, a breakdown below this level will signal resumption of the downtrend from 1.4246 (Oct 27 high), then deeper decline towards 1.2500 could be seen.
AUDUSD Analysis.
AUDUSD may be forming a cycle top at 1.0218 on 4-hour chart. Pullback to test 1.0050 key support is expected later today, a breakdown below this level could trigger another fall towards 0.9663. Resistance is at 1.0218, only break above this level could trigger another rise towards 1.0378.
USDCAD Analysis.
USDCAD traded within a descending price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.0100 area. On the upside, a clear break above the channel will indicate that a cycle bottom has been formed, and the fall from 1.0422 has completed, then another rise towards 1.0523 could be seen.
GBPUSD Analysis.
GBPUSD formed a cycle top at 1.5773 on 4-hour chart. Now the fall from 1.5773 would possibly be resumption of downtrend from 1.6164 (Oct 31 high), another fall towards the lower border of the price channel is expected later today. Resistance is at 1.5773, only break above this level could bring price to 1.5900 zone.
USDJPY Analysis.
USDJPY has reached the upward trend line on 4-hour chart. As long the trend line support holds, we’d expected uptrend to resume, and one more rise to test 78.27 resistance is possible. On the other side, a clear break below the trend line will signal completion of uptrend from 77.13, then the pair will find support around 77.00.
