AUDUSD Analysis.
Being supported by the lower border of the price channel on 4-hour chart, AUDUSD rebounded from 1.0145, suggesting that the fall from 1.0385 has completed. Now the bounce would possibly be resumption of uptrend from 0.9861, further rise to test 1.0385 resistance is expected later today, a break above this level could bring price to 1.0600 area. Key support is now at 1.0145, only break below this level will indicate that the rise from 0.9861 had completed at 1.0385 already, then the following downward move could pull price back to 0.9500 zone.
USDCHF Analysis.
USDCHF broke below 0.9500 support, suggesting that a cycle top is being formed on 4-hour chart. Deeper decline would likely be seen in a couple of days, and the target would be at upward trend line from 0.9066 to 0.9304.
EURUSD Analysis.
EURUSD remains in downtrend, the rise from 1.2666 is likely consolidation of downtrend. Resistance is at 1.2810, as long as this level holds, we’d expect downtrend to resume, and another fall to 1.2500 is still possible. On the upside, a break above 1.2810 will indicate that a cycle bottom has been formed at 1.2666 on 4-hour chart, then further rally could be seen to 1.3000 zone.
USDCAD Analysis.
USDCAD’s from 1.0076 extended to 1.0318 only, the subsequent fall suggested that a cycle top had been formed on 4-hour chart. Deeper decline would likely be seen and the target would be at 1.0150 area. Key resistance is at 1.0318, only break above this level could trigger another rise towards 1.0400.
GBPUSD Analysis.
Being supported by 1.5362, GBPUSD rebounded from 1.5375, however, the bounce is likely correction of downtrend from 1.5669, another fall to test 1.5272 (Oct 6, 2011 low) support could be expected after correction.
USDJPY Analysis.
USDJPY is forming a sideways consolidation in a range between 76.60 and 77.32. Key resistance is at 77.32, a break above this level will confirm that the fall from 78.21 had completed at 76.60 already, then further rise to test 78.27 resistance could be seen. Support is at 76.60, only break below this level could trigger another fall to 76.00 zone.
