EURUSD Analysis.
EURUSD stays in a rising price channel on 4-hour chart, and remains in uptrend from 1.3969. As long as the channel support holds, uptrend could be expected to continue and next target would be at 1.4550. However, a clear break below the lower border of the channel will indicate that a cycle top has been formed and the rise from 1.3969 has completed, then the following downward move could bring price back to test 1.3969 support.
USDCAD Analysis.
USDCAD failed to break above 0.9816 resistance and pulled back from 0.9809, suggesting that lengthier consolidation of uptrend from 0.9444 is underway. Range trading between 0.9639 and 0.9816 would likely be seen in a couple of days. As long as 0.9639 key support holds, we’d expect uptrend to resume, and another rise towards 1.0000 is still possible.
AUDUSD Analysis.
Being contained by the upper border of the price channel on 4-hour chart, AUDUSD pulled back from 1.0756. The fall would possibly be resumption of downtrend from 1.1011. Deeper decline is expected in a couple of days and next target would be at 1.0500 zone.
GBPUSD Analysis.
GBPUSD may be forming a cycle bottom at 1.6304 on 4-hour chart. Key resistance is at 1.6420, a break above this level will confirm the cycle bottom, then another rise towards 1.6745 previous high could be seen. Support is at 1.6304, only break below this level could indicate that the pair remains in downtrend from 1.6546, then the next target would be at 1.6200 zone.
USDCHF Analysis.
USDCHF remains in downtrend from 0.8945. Further fall is still possible later today, and next target would be at 0.8300. Resistance is at 0.8546, only break above this level will indicate that the fall from 0.8945 is complete.
USDJPY Analysis.
USDJPY is now in downtrend from 82.22. Further fall is expected in a couple of days, and next target would be at 80.00 area. Resistance is at 81.76, only break above this level could trigger another rise towards 83.00.
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