AUDUSD Analysis.
AUDUSD may be forming a cycle bottom at 0.9537 level on 4-hour chart. Range trading between 0.9537 and 0.9700 would likely be seen in a couple of days. Support is at 0.9537, a breakdown below this level will indicate that the downtrend from 0.9953 has resumed, then another fall to 0.9450 could be seen. Resistance is at 0.9700, only break above this level could suggest that lengthier consolidation of downtrend is underway, then further rally to 0.9750-0.9800 area is expected.
EURUSD Analysis.
EURUSD bounced from 1.2969, suggesting that a cycle bottom is being formed on 4-hour chart and consolidation of downtrend is underway. Range trading between 1.2969 and 1.3250 is expected in a couple of days. Support is at 1.2969, below this level could indicate that the downtrend from 1.4281 has resumed, then another fall to 1.2700 could be seen.
USDCHF Analysis.
USDCHF’s uptrend from 0.9548 extended to as high as 1.0066 level. Another rise is expected later today and next target would be at 1.0200 area. Support is at 0.9925 followed by 0.9848, as long as these levels hold, uptrend will continue.
USDJPY Analysis.
Being supported by the lower border of the price channel on 4-hour chart, USDJPY rebounded from 83.38. The rise from 83.38 is likely resumption of uptrend from 80.30, a break above 84.40 resistance will trigger another rise 85.00 area. Key support is now at 83.38, only break below this level could indicate that the upward move from 80.30 has completed at 84.40 already, then the following downward movement could take price back to 81.00-82.00 area.
GBPUSD Analysis.
GBPUSD has formed a cycle bottom at 1.5484 level on 4-hour chart. Consolidation of downtrend is underway and range trading between 1.5484 and 1.5700 could be seen in a couple of days. However, downtrend is expected to continue after consolidation, and a breakdown below 1.5484 will indicate that the downtrend has resumed, then next target would be at 1.5300-1.5400 area.
USDCAD Analysis.
After breaking above 1.0263 resistance, USDCAD pulled back from 1.0285 and broke below 1.0167 support. The fall had bring price to a trading range between 1.0076 and 1.0285, sideways movement in the range is expected in a couple of days.
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