USDCHF Analysis.
USDCHF breaks above the downward trend line on 4-hour chart, suggesting that lengthier consolidation of the downtrend from 0.9607 is underway. Range trading 0.9239 and 0.9350 would likely be seen in a couple of days. Resistance is at 0.9350, as long as this level holds, the downtrend could be expected to resume, and another fall towards 0.9000 is possible after consolidation. Support is at 0.9239, a breakdown below this level could signal resumption of the downtrend.
EURUSD Analysis.
EURUSD had formed a cycle top at 1.3171 on 4-hour chart. Range trading between 1.2900 and 1.3171 would likely be seen over the next several days. Support is at 1.2900, as long as this level holds, the fall from 1.3171 is treated as consolidation of the uptrend from 1.2241, and another rise towards 1.3500 is still possible after consolidation.
AUDUSD Analysis.
AUDUSD is in downtrend from 1.0624, the rise from 1.0409 is treated as consolidation of the downtrend. Another fall could be expected, and next target would be at 1.0300 area. Key resistance is at 1.0624, only break above this level could trigger another rise towards 1.1000.
GBPUSD Analysis.
GBPUSD breaks below the upward trend line on 4-hour chart, suggesting that a cycle top has been formed at 1.6272. Range trading between 1.6100 and 1.6272 would likely be seen over the next several days. However, the fall from 1.6272 is treated as consolidation of the uptrend from 1.5753, another rise towards 1.6500 is still possible after consolidation.
USDCAD Analysis.
USDCAD remains in downtrend, the rise from 0.9632 is treated as consolidation of the downtrend. Range trading between 0.9632 and 0.9800 would likely be seen in a couple of days. Another fall could be expected after consolidation, and a breakdown below 0.9632 could signal resumption of the downtrend.
USDJPY Analysis.
USDJPY pulls back from 79.21, suggesting that a cycle top has been formed on 4-hour chart. Further decline would likely be seen and the target would be at 77.75 area. However, the fall would possibly be correction of the uptrend from 77.14, another rise could be expected after consolidation.
