USDCAD broke above the downward trend line on 4-hour chart, suggesting that a cycle bottom is being formed at 0.9926. Range trading between 0.9926 and 1.0050 would likely be seen in a couple of days. As long as 1.0050 resistance holds, the bounce is treated as consolidation of downtrend from 1.0318, and one more fall towards 0.9800 is still possible after consolidation. On the upside, a break above 1.0050 will signal completion of the downtrend, then further rally could be seen to 1.0100-1.0150 area.
USDCHF broke below 0.9114 support, suggesting that a downtrend from 0.9594 had resumed. Further fall could be expected in a couple of days, and next target would be at 0.9000 area. Resistance is at 0.9170, only break above this level could indicate that lengthier consolidation of downtrend is underway, then range trading between 0.9114 and 0.9262 could be seen.
EURUSD broke above 1.3233 resistance, and the uptrend from 1.2624 had resumed. Further rise could be expected in a couple of days, and next target would be at 1.3400 area. Support is at 1.3150, only break below this level could indicate that lengthier consolidation of uptrend is underway.
AUDUSD remains in uptrend from 1.0145, the fall from 1.0844 is treated as consolidation of uptrend. Initial support is at the lower line of the price channel on 4-hour chart, as long as the channel support holds, we’d expect uptrend to resume, and one more rise towards 1.0900 is still possible. Key support is at 1.0671, only break below this level could signal completion of the uptrend.
USDJPY continued its upward movement from 76.02 yesterday, and the rise extended to as high as 77.18. Further rise is still possible after a minor consolidation, and next target would be at 77.50. support is now at 76.70, only break below this level could signal completion of the uptrend.
GBPUSD pulled back from 1.5928 and broke below 1.5840 support, suggesting that lengthier consolidation of uptrend from 1.5236 is underway. Range trading between 1.5729 and 1.5928 is expected in a couple of days.