USDCAD Analysis.
USDCAD broke below 0.9743 support, suggesting that a cycle top had been formed at 0.9816 on 4-hour chart, and lengthier consolidation of uptrend from 0.9444 is underway. Further fall is expected later today, and target would be at 0.9650-0.9700 area. Resistance is at 0.9816, only break above this level could signal resumption of uptrend.
GBPUSD Analysis.
GBPUSD’s upward movement extended to as high as 1.6538. Further rise is still possible in a couple of days, and next target would be at 1.6600 area. Support is at 1.6445, as long as this level holds, uptrend could be expected to continue.
USDCHF Analysis.
USDCHF continued its bearish movement, and the fall extended to as low as 0.8465. Further fall could be seen in a couple of days, and next target would be at 0.8350 area. Resistance is at 0.8550, as long as this level holds, downtrend will continue.
AUDUSD Analysis.
No changed in our view, AUDUSD remains in downtrend from 1.1011, the price action from 1.0536 is treated as consolidation of downtrend. Further rise could be expected later today, and target would be at the upper border of the price channel on 4-hour chart. Downtrend could be expected to resume after touching the channel resistance, and another fall towards 1.0000 is still possible.
EURUSD Analysis.
EURUSD broke above 1.4345 resistance, suggesting that lengthier consolidation of downtrend from 1.4939 is underway. Further rise is still possible in a couple of days, and target would be at 1.4500 area. Support is at 1.4255, only break below this level could indicate that the upward move from 1.3969 is complete.
USDJPY Analysis.
USDJPY is in downtrend from 82.22. Further decline to test 79.58 support would likely be seen in a couple of days, a breakdown below this level will indicate that the longer term downtrend from 85.51 has resumed, then next target would be at 78.00 zone.
