USDCHF Analysis.
USDCHF fall below 1.1213 key support and formed a short term cycle top at 1.1416 on 4-hour chart. Deeper decline could be seen towards 1.1080 zone, as long as this support holds, we’d expect up trend to resume, and rise above 1.1416 is still possible after consolidation.
USDCAD Analysis.
USDCAD formed a short term cycle top at 1.0819 on 4-hour chart. Further fall towards 1.0500 is expected in a couple of days. 1.0410 previous low would more likely be held and rebound could be seen before breaking below this level.
EURUSD Analysis.
EURUSD rebounded from 1.3881 and formed a short term cycle bottom on 4-hour chart. Further rise to test 1.4428 resistance is still possible later today, a break of this level will signal further rally to 1.4700 zone.
AUDUSD Analysis.
AUDUSD rebounded from 0.7900 and broke above the trend line resistance. Further rise to test 0.8353 resistance could be seen later today, a break of this level will signal further rally towards 0.8650 zone.
GBPUSD Analysis.
GBPUSD rebounded from 1.7445 and formed a short term cycle bottom on 4-hour chart. Further rise is expected towards 1.8480 zone. As long as 1.8480 resistance holds, we’d expect down trend to resume, and pullback to retest 1.7445 could be seen.
USDJPY Analysis.
USDJPY formed a sideways consolidation in a range between 105.52 and 109.18. Moving without trend in this range would more likely be seen in a couple of days. A break below 105.52 will signal deeper decline towards 104.00-50 area.
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