USDCHF Analysis.
USDCHF is facing 0.9546 resistance, a break above this level will indicate that the uptrend from 0.8569 (Oct 27, 2011 low) has resumed, then further rise towards 1.0000 could be seen. Support is now at 0.9400, only breakdown below this level could indicate that lengthier consolidation of uptrend is underway.
EURUSD Analysis.
EURUSD broke below 1.2858 support, suggesting that the downtrend from 1.4246 (Oct 27, 2011 high) has resumed. Further decline could be seen over the next several days, and next target would be at 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.
AUDUSD Analysis.
AUDUSD has formed a cycle top at 1.0385 on 4-hour chart. However, the fall from 1.0385 is likely consolidation of uptrend from 0.9861, as long as the upward trend line support holds, we’d expect uptrend to resume, and another rise towards 1.0600 is still possible.
USDCAD Analysis.
USDCAD broke above the downward trend line on 4-hour chart, suggesting that the fall from 1.0422 has completed at 1.0076 already. Further rally is now in favor, and next target would be at 1.0300 area. Key support is now at 1.0076, only break below this level could trigger another fall towards 1.0000.
GBPUSD Analysis.
GBPUSD formed a cycle top at 1.5669 on 4-hour chart. Deeper decline to test 1.5362 support would likely be seen later today, a breakdown below this level could signal resumption of the downtrend from 1.6164 (Oct 31, 2011 high).
USDJPY Analysis.
USDJPY failed to break below 76.56 (Nov 18, 2011 low) support, and rebounded strongly from 76.60, suggesting that a cycle bottom has been formed on 4-hour chart, and the fall from 78.21 has completed. Further rally could be seen after a minor consolidation, and next target would be at 77.70 area.
