GBPUSD broke below 1.9461 support and reached as low as 1.9434. Further fall to test 1.9363 (May 14 low) is still possible later today. Long term key support is located at 1.9337 (Jan 22 low), a break down below this level will signal resumption of long term down trend.
USDCAD is in consolidation to up trend. Pullback to test 1.0070 support is expected later today. As long as 1.0070 support holds, we’d expect up trend to resume. Initial resistance is at 1.0322, a break of this level will signal resumption of up trend.
Being contained by 1.5365 previous low support, EURUSD rebounded from 1.5378 level. The pair is in consolidation to down trend. Deeper decline is expected to test 1.5284 (May 8 low) after consolidation, and a break down below1.5378 will signal resumption of down trend.
USDCHF is in up trend. Pullback from 1.0489 is treated as consolidation to up trend. Initial support is at the up trend line from 1.0147 to 1.0301, as long as the trend line support holds, we’d expect up trend to resume and rally to test 1.0623 (May 8 high) is still possible.
USDJPY breaks above 107.76 and up trend has resumed. Further rise to 108.50 area to reach the next cycle top on 4-hour chart is expected. Near term support is located at 106.56, as long as this support holds, up trend will continue.
AUDUSD broke below the up trend line from 0.8953 (Mar 20 low) to 0.9291 (May 15 low) and reached as low as 0.9327. Further fall to test 0.9291 (May 15 low) is still possible later today and a break of 0.9327 will confirm such case.