EURUSD Analysis.
EURUSD failed to break above the upper line of the price channel on 4-hour chart, and pulled back from 1.3076. Further fall to test 1.2858 support would likely be seen, a breakdown below this level will signal resumption of the longer term downtrend from 1.4246 (Oct 27, 2011 high), then further decline could be seen to 1.2500 area. Key resistance is now at 1.3076, only break above this level could indicate that the fall from 1.4246 is complete.
USDCHF Analysis.
USDCHF has formed a cycle bottom at 0.9304 on 4-hour chart. Further rise towards 0.9546 is expected, a break above this level will signal resumption of the longer term uptrend from 0.8569 (Oct 27, 2011 low), then further rise towards 1.0000 could be seen. Key support is now at 0.9304, only break below this level could indicate that lengthier consolidation of uptrend is underway.
AUDUSD Analysis.
AUDUSD remains in uptrend from 0.9861, the fall from 1.0385 is treated as consolidation of uptrend. Key support is located at the upward trend line on 4-hour chart, as long as the trend line support holds, uptrend could be expected to resume, and another rise towards 1.0600 is possible.
USDCAD Analysis.
USDCAD stays below a downward trend line on 4-hour chart and remains in downtrend from 1.0422. As long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 1.0000 area. On the other side, a clear break above the trend line could indicate that the fall from 1.0422 has completed at 1.0076 already, then the following upward movement could bring price back to 1.0400 area.
GBPUSD Analysis.
GBPUSD remains in consolidation of the downtrend from 1.6164 (Oct 31, 2011 high), lengthier range trading between 1.5362 and 1.5779 could be seen over the next several days. As long as 1.5779 resistance holds, one more fall to re-test 1.5272 (Oct 6, 2011 high) support is still possible.
USDJPY Analysis.
USDJPY is facing 76.56 (Nov 18, 2011 low) support. Further decline would likely be seen after a minor consolidation, and the target would be at 76.00 area. Key resistance is at 77.15, only break above this level could signal completion of the downtrend.
