AUDUSD Analysis.
AUDUSD breaks below the trend line from 0.8632 to 0.8905, suggesting that a cycle top is being formed at 0.9221 level on 4-hour chart. Range trading between 0.9070 and 0.9221 is expected in a couple of days. As long as 0.9070 key support holds, the price action from 0.9221 is treated as consolidation of uptrend from 0.8632 and one more rise towards 0.9300 is still possible. However, a break below 0.9070 could indicate that lengthier consolidation of uptrend is underway, then the pair would find support at 0.9000 area.
EURUSD Analysis.
EURUSD breaks below the lower border of the price channel on 4-hour chart. Range trading between 1.3119 and 1.3333 would more likely be seen in a couple of days. Key support is at 1.3119, below this level will indicate that lengthier consolidation of uptrend from 1.1876 (Jun 7 low) is underway, then deeper decline could be seen to 1.3000 area.
USDCHF Analysis.
USDCHF traded in a falling price channel on 4-hour chart. Further rise towards the upper border of the channel is possible later today, and pullback would more likely be seen before breaking above the channel resistance. Key resistance is located at 1.0675, a break of this level will indicate that the downtrend from 1.1730 (Jun 1 high) has completed at 1.0331 already, then the following upward movement could bring price back to 1.1200 or even higher.
GBPUSD Analysis.
GBPUSD breaks below the rising trend line from 1.5124 to 1.5551 and is facing 1.5820 key support, below this level will indicate that the uptrend from 1.5124 has completed at 1.5997 already, then deeper decline could be seen to 1.5600-1.5700 area. Resistance is at 1.5997, only rise above this level could trigger another rise to 1.6200 zone.
USDJPY Analysis.
USDJPY has reached the falling trend line from 86.87 to 86.44, a clear break above the trend line could bring price to 86.50 area. However, another fall towards 84.82 (2009 low) would more likely be seen.
USDCAD Analysis.
USDCAD had formed a cycle bottom at 1.0107 level on 4-hour chart. Further rally is expected later today and target is to test 1.0394 resistance. Key support is at 1.0107, only fall below this level could take price back to 1.0000 area.
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