GBPUSD Analysis.
GBPUSD rebounded strongly from 1.5484, suggesting that a cycle bottom had been formed on 4-hour chart. Further rise to test 1.5776 resistance could be expected, a break above this level will signal resumption of the uptrend from 1.5268, then next target would be at 1.6000 area. However, as long as 1.5776 resistance holds, the rise from 1.5484 could possibly be correction of the downtrend from 1.5776, and another fall towards 1.5268 is still possible.
USDCHF Analysis.
USDCHF broke below the upward trend line last Friday, and reached as low as 0.9463, suggesting that a cycle top had been formed at 0.9678 on 4-hour chart. Further decline to test 0.9421 support could be expected, a breakdown below this level will indicate that the downtrend from 0.9769 has resumed, then next target would be at 0.9300 area. Resistance is at 0.9570, only break above this level could trigger another rise towards 0.9769 previous high.
USDJPY Analysis.
After touching the lower line of the price channel on 4-hour chart, USDJPY rebounds from 79.14, suggesting that a cycle bottom has been formed. Further rise to test 80.62 resistance would likely be seen in a couple of days, a break above this level will signal resumption of the uptrend from 77.66, then next target would be at 83.00 area.
EURUSD Analysis.
EURUSD is facing 1.2747 resistance, a break above this level will indicate that the uptrend from 1.2288 has resumed, then further rise to 1.3000 area could be seen. On the other side, as long as 1.2747 resistance holds, the rise from 1.2407 could possibly be correction of the downtrend from 1.2747, and another fall towards 1.2000 is still possible.
AUDUSD Analysis.
AUDUSD breaks above 1.0223 key resistance, suggesting that the uptrend from 0.9581 has resumed. Further rise could be expected in a couple of days, and next target would be at 1.0400 area. Support is at 1.0150, only break below this level could bring price back to1.0000 zone.
USDCAD Analysis.
USDCAD breaks below the upward trend line on 4-hour chart, suggesting that a cycle top has been formed at 1.0361 on 4-hour chart, and the downtrend from 1.0445 has resumed. Further decline would likely be seen over the next several days, and next target would be at 1.0000 area.
