EURUSD Analysis.
EURUSD failed to break below the upward trend line from 1.2042 to 1.2134, and rebounded from 1.2241, suggesting that a cycle bottom is being formed on 4-hour chart. Further rise to test 1.2442 resistance would likely be seen, a break above this level will target 1.2600 zone. Key support remains at the trend line, only a clear break below the trend line support could signal resumption of the longer term downtrend from 1.3486 (Feb 24 high), then further decline towards 1.1700 could be seen.
USDCHF Analysis.
USDCHF failed to break above the trend line from 0.9971 to 0.9897, and dropped from 0.9809, suggesting that a cycle top is being formed on 4-hour chart. Now the fall is likely resumption of the downtrend from 0.9971, further decline would likely be seen, and the target would be at 0.9500 area. Key resistance remains at the trend line, only a clear break above the trend line resistance could signal completion of the downtrend.
GBPUSD Analysis.
GBPUSD continues its sideways movement in a range between 1.5458 and 1.5767. Further rise to test 1.5767 resistance is possible, a break above this level will target 1.5900 area. Key support is at 1.5458, only break below this level could trigger another fall towards 1.5000.
USDJPY Analysis.
USDJPY has formed a cycle top at 78.78 on 4-hour chart. Another fall to test 77.92 previous low support could be expected, a breakdown below this level will signal resumption of the downtrend from 80.62 (Jun 25 high), then next target would be at 77.00 area.
USDCAD Analysis.
USDCAD remains in downtrend from 1.0083. Further decline would likely be seen in a couple o f days, and next target would be at 0.9850 area. Resistance is at 0.9970, only break above this level could signal completion of the downtrend.
AUDUSD Analysis.
No changed in our view, AUDUSD remains in uptrend from 1.0176, the fall from 1.0612 is treated as consolidation of the uptrend. As long as 1.0435 key support holds, the uptrend could be expected to resume, and another rise towards 1.0650 is still possible, only break below 1.0435 could signal completion of the uptrend.
