USDCAD Analysis.
Being contained by the upper boundary of the falling price channel on 4-hour chart, USDCAD pulled back from 1.0349, suggesting that a cycle top is being formed. Further fall towards 1.0215 would more likely be seen later today, a break below this level will indicate that the downtrend from 1.0672 has resumed, then next target would be at 1.0150 area. However, a break above 1.0349 will suggest that the downward move from 1.0672 has completed at 1.0215 already, then the following uptrend could bring price back to 1.0600 zone.
USDCHF Analysis.
USDCHF runs in a falling price channel on 4-hour chart and remains in downtrend from 1.1730 (Jun 1 high). The price action from 0.9932 is treated as consolidation of downtrend. Sideways movement in a range between 0.9932 and 1.0277 would more likely be seen in a couple of days. Key resistance is at 1.0227, as long as this level holds, downtrend is expected to continue and another fall to 0.9700 is still possible. However, a break above 1.0277 will indicate that the fall from 1.1730 has completed at 0.9932 already, then the following upward movement could bring price to 1.1000 area.
AUDUSD Analysis.
Being supported by the lower border of the price channel on 4-hour chart, AUDUSD rebounded to as high as 0.9493 level. As long as the channel support holds, uptrend is expected to continue and next target would be at 0.9600 area. Key support is now at 0.9330, only break below this level will indicate that the uptrend from 0.8771 has completed, then deeper decline could be seen to 0.9000 zone.
EURUSD Analysis.
EURUSD may be forming a cycle top at 1.3158 level on 4-hour chart. Range trading between 1.2953 and 1.3158 would more likely be seen in a couple of days. Key support is at 1.2953, as long as this level holds, uptrend from 1.2643 is expected to continue and another rise to 1.3200-1.3250 is still possible. However, a breakdown below 1.2953 will indicate that the uptrend from 1.2643 has completed at 1.3158 already, then the following downward movement could bring price back to re-test 1.2587 previous low support.
GBPUSD Analysis.
GBPUSD has formed a cycle top at 1.5728 level on 4-hour chart. Deeper decline is still possible in a couple of days and target would be at 1.5400 area. Resistance is at 1.5728, only break above this level could trigger another rise to 1.5800-1.5850 area.
USDJPY Analysis.
USDJPY is facing 85.89 key resistance and move sideways in a narrow range. A clear break above 85.89 will suggest that the fall from 92.88 (Jun 4 high) has completed at 82.87 already, then the following upward movement could bring price to 90.00 area.
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