EURUSD Analysis.
EURUSD’s upward movement from 1.2501 extends to as high as 1.3171. Support remains at the trend line on 4-hour chart, as long as the trend line support holds, uptrend could be expected to continue, and next target would be at 1.3300 area. On the other side, a clear break below the trend line support will indicate that a cycle top has been formed at 1.3171, and consolidation of the uptrend is underway, then further decline to 1.2900 area could be seen.
AUDUSD Analysis.
AUDUSD breaks below the upward trend line on 4-hour chart, suggesting that a cycle top has been formed at 1.0624, and the pair is now in downtrend. Further decline would likely be seen over the next several days, and the target would be at 1.0200 area. Key resistance is now at 1.0624, only break above this level could trigger another rise towards 1.1000.
GBPUSD Analysis.
GBPUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.5753. As long as the trend line support holds, further rise could be expected, and next target would be at 1.6300 area, only a clear break below the trend line could signal completion of the uptrend.
USDCHF Analysis.
USDCHF stays below a downward trend line on 4-hour chart, and remains in downtrend from 0.9607. Further decline could be expected, and next target would be at 0.9100 area. Resistance remains at the trend line, only a clear break above the trend line could indicate that consolidation of the downtrend is underway, then further rally to 0.9400 area could be seen.
USDCAD Analysis.
USDCAD has formed a cycle bottom at 0.9632 on 4-hour chart. Range trading between 0.9632 and 0.9775 would likely be seen in a couple of days. However, the rise from 0.9632 is treated as consolidation of the downtrend from 0.9948, another fall to 0.9500 could be expected after consolidation.
USDJPY Analysis.
USDJPY’s rise from 77.14 extends to as high as 78.92. Further rise would likely be seen, and next target would be at 79.25 area. Support levels are at 78.10 and 77.85.
