USDCHF breaks below 0.9500 key support and reaches as low as 0.9478, suggesting that the uptrend from 0.9043 has completed at 0.9769 already. The pair is now in downtrend, further decline could be expected over the next several days, and next target would be at 0.9300 area. Resistance is located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, downtrend will continue.
EURUSD is facing 1.2670 key resistance, a break above this level will indicate that the downward movement from 1.3283 has completed at 1.2288 already, then further rise to test to test 1.2823 resistance could be seen. However, as long as 1.2670 resistance holds, the rise action from 1.2288 could be treated as consolidation of the downtrend, and another fall towards 1.2000 is still possible after consolidation.
AUDUSD continues its upward movement from 0.9581, and the rise extends to as high as 1.0007. Further rise is still possible later today and next target would be at 1.0100 area. Support levels are at 0.9920 and 0.9820, only break below these levels could trigger another fall to test 0.9581 previous low support.
USDCAD remains in downtrend from 1.0445. Further decline could be expected in a couple of days, and next target would be at 1.0100 area. Resistance is at the downward trend line on 4-hour chart, as long as the trend line resistance holds, downtrend will continue.
USDJPY’s rise from 77.66 extends to as high as 79.78. Further rise to test 80.61 key resistance would likely be seen, a break above this level will indicate that the downtrend from 84.17 (Mar 15 high) has completed at 77.66 already, then the following upward movement could bring price to 83.00 zone.
GBPUSD may be forming a cycle top at 1.5600 on 4-hour chart. Range trading between 1.5268 and 1.5600 would likely be seen over the next several days. Resistance remains at 1.5600, only break above this level could signal completion of the downtrend from 1.6301.