AUDUSD Analysis.
AUDUSD breaks above 1.0274 resistance, and is now facing the downward trend line resistance. As long as the trend line resistance holds, the downtrend from 1.0624 could be expected to resume, and another fall to 1.0000-1.0100 area to complete the downward movement is possible. On the upside, a clear break above the trend line resistance will suggest that the fall from 1.0624 has completed, then further rise towards 1.0624 previous high could be seen.
GBPUSD Analysis.
GBPUSD may be forming a cycle bottom at 1.5976 on 4-hour chart. Further rise would likely be seen and the first target would be at 1.6100 area. Support is at 1.5976, only break below this level could trigger another fall to 1.5900 area.
USDCAD Analysis.
No changed in our view, USDCAD remains in downtrend from 0.9884, the rise from 0.9734 is treated as correction of the downtrend. Another fall towards 0.9632 previous low could be expected after correction, and a breakdown below 0.9734 could signal resumption of the downtrend.
USDCHF Analysis.
Being contained by 0.9437 resistance, USDCHF pulls back from 0.9431, suggesting that a cycle top has been formed on 4-hour chart. Further decline could be expected and next target would be at 0.9300 area. Resistance levels are at 0.9400 and 0.9437, only break above these levels could trigger another rise to 0.9500-0.9600 area.
EURUSD Analysis.
EURUSD failed to break below 1.2803 support and rebounded from 1.2825, suggesting that a cycle bottom has been formed on 4-hour chart. Further rise would likely be seen, and next target would be at 1.3050 area. Support levels are at 1.2875 and 1.2803, only break below these levels could trigger another fall to 1.2700 zone.
USDJPY Analysis.
USDJPY has formed a cycle bottom at 77.94 on 4-hour chart. Further rise to test 78.86 resistance could be seen, a break above this level could signal resumption of the uptrend from 77.43, then next target would be at 80.00 area. Support is at 77.94, only break below this level could bring price back to 77.00 area.
