AUDUSD Analysis.
AUDUSD had formed a cycle top at 1.0855 on 4-hour chart. Further decline to test 1.0596 key support would likely be seen, a breakdown below this level will indicate that the longer term uptrend from 0.9861 had completed, then the following downward movement could bring price to 0.9500 area. Resistance is at 1.0855, only break above this level could trigger another rise towards 1.1080 previous high.
USDCAD Analysis.
USDCAD may be forming a cycle bottom at 0.9841 on 4-hour chart. Range trading between 0.9841 and 0.9950 would likely be seen in a couple of days. As long as 0.9950 resistance holds, the rise from 0.9841 is treated as consolidation of the downtrend from 1.0049, and one more fall to 0.9800 is still possible.
USDCHF Analysis.
USDCHF’s bounce from 0.8931 extends to as high as 0.9149. Further rise is still possible later today, and next target would be at 0.9200 area. Support is at 0.9065, only break below this level could indicate that a cycle top is being formed on 4-hour chart, then the pair will find support around 0.9000.
EURUSD Analysis.
EURUSD continues its downward movement from 1.3486, and the fall extends to as low as 1.3183. Further fall is still possible later today, and next target would be at 1.3100 area. Resistance is at 1.3300, only break above this level could signal completion of the downtrend.
USDJPY Analysis.
USDJPY breaks above 81.65 previous high and reaches as high as 81.86, suggesting that the uptrend from 76.02 has resumed. Further rise could be seen in a couple of days, and next target would be at 82.50 area.
GBPUSD Analysis.
GBPUSD breaks below the upward trend line on 4-hour chart, suggesting that a cycle top has been formed at 1.5991 on 4-hour chart. Further decline would likely be seen in a couple of days, and next target would be at 1.5700 area.
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