After breaking above the upper line of the price channel on 4-hour chart, USDCAD pulled back from 1.0038. Range trading between 0.9925 and 1.0038 would likely be seen in a couple of days. As long as 1.0038 level holds, the price action in the range could be treated as consolidation of the downtrend from 1.0318, and one more fall to 0.9800 is still possible. On the other side, a break above 1.0038 will confirm that the fall from 1.0318 had completed at 0.9925 already, then further rally could be seen to 1.0400 area.
USDCHF had formed a cycle bottom at 0.9088 on 4-hour chart. Range trading between 0.9088 and 0.9262 is expected in a couple of days. As long as 0.9262 key resistance holds, downtrend could be expected to resume, and one more fall towards 0.9000 is still possible. One the upside, a break above 0.9262 will indicate that the fall from 0.9594 had completed at 0.9088 already, then the following upward movement could bring price back to test 0.9594 previous high resistance.
EURUSD is forming a sideways consolidation in a range between 1.3026 and 1.3320. As long as 1.3026 key support holds, one more rise towards 1.3500 is still possible after consolidation. However, a breakdown below 1.3026 will indicate that the uptrend from 1.2624 had completed at 1.3320 already, then deeper decline towards 1.2624 previous low could be seen.
AUDUSD is now in downtrend from 1.0844, the bounce from 1.0640 is treated as consolidation of the downtrend. Another fall towards 1.0500 would likely be seen, and a breakdown below 1.0640 will signal resumption of the downtrend. Key resistance is at 1.0844, only break above this level could trigger another rise to 1.0900.
USDJPY remains in uptrend from 76.02, the fall from 77.80 is likely consolidation of the uptrend. Range trading between 77.10 and 77.80 would likely be seen in a couple of days. As long as 77.10 support holds, we’d expect uptrend to resume, and another rise towards 79.00 is still possible.
GBPUSD broke below 1.5729 key support, suggesting that the uptrend from 1.5236 has completed at 1.5928. Further decline is expected in a couple of days, and next target would be at 1.5600 area. Resistance is at the downward trend line on 4-hour chart, as long as the trend line resistance holds, downtrend will continue.