AUDUSD Analysis.
AUDUSD’s bounce from the lower border of the price channel on 4-hour chart is likely resumption of uptrend from 0.9861. Further rise to test 1.0385 resistance would likely be seen later today, a break above this level could bring price to 1.0600 area. Initial support is now located at 1.0230, only break below this level could indicate that lengthier consolidation of uptrend is underway, then sideways movement in a range between 1.0145 and 1.0385 could be seen.
USDCHF Analysis.
USDCHF has formed a cycle top at 0.9594 on 4-hour chart, deeper decline would likely be seen in a couple of days, and the target would be at the upward trend line from 0.9066 to 0.9304. Resistance is at 0.9594, only break above this level could trigger another rise towards 1.0000.
EURUSD Analysis.
EURUSD may be forming a cycle bottom at 1.2666 on 4-hour chart. Further rally would likely be seen over the next several days, and the target would be at 1.3000 area. Support is at 1.2666, only break below this level could trigger another fall towards 1.2500.
USDCAD Analysis.
USDCAD’s downward movement from 1.0318 extended to as low as 1.0151. Deeper decline would likely be seen in a couple of days, and the target would be at 1.0100 area. Resistance is at 1.0210, as long as this level holds, downtrend will continue.
GBPUSD Analysis.
GBPUSD failed to break below 1.5362 support and 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 stays in a trading range between 76.60 and 77.32. Lengthier consolidation in the range would likely be seen in a couple of days. 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.
