USDCAD Analysis.
USDCAD is facing the resistance of the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the price action from 0.9824 is treated as consolidation of the downtrend from 1.0055 (Nov 16, 2012 high), and the downtrend could be expected to resume after touching the channel resistance. Support is at 0.9900, a breakdown below this level will indicate that a cycle top has been formed at 0.9946, and the downtrend from 1.0055 has resumed, then further decline towards 0.9700 could be seen. On the upside, a clear break above the channel resistance will indicate that the downtrend from 1.0055 had completed at 0.9815 already, then the following upward movement could bring price to 1.0200 zone.
USDJPY Analysis.
USDJPY remains in uptrend from 82.11. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 91.00 area. On the downside, a clear break below the trend line support will suggest that a cycle top has been formed at 90.24 on 4-hour chart, then sideways consolidation between 87.79 and 90.24 could be seen.
EURUSD Analysis.
EURUSD moves sideways in a range between 1.3256 and 1.3403. As long as 1.3200 key support holds, the price action in the range could be treated as consolidation of the uptrend from 1.2998, and another rise towards 1.3500 could be expected after consolidation.
USDCHF Analysis.
USDCHF may be forming a cycle top at 0.9388 on 4-hour chart. Key support is at 0.9285, a breakdown below this level will indicate that the uptrend from 0.9110 has completed, then further decline towards 0.9083 previous low could be seen. Resistance is at 0.9388, only break above this level could trigger another rise to 0.9450 zone.
AUDUSD Analysis.
AUDUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.0597. As long as the trend line resistance holds, the downward movement could be expected to continue, and next target would be at 1.0450 area. Only a clear break above the trend line resistance will suggest that the downtrend has completed, then another rise towards 1.0700 could be seen.
GBPUSD Analysis.
GBPUSD continues its downward movement from 1.6176 and the fall extends to as low as 1.5806. Further decline would likely be seen and next target would be at 1.5750 area. Resistance is at 1.5895, only break above this level could signal completion of the downtrend.
