EURUSD Analysis.
EURUSD is facing the support of the lower border of the price channel on 4-hour chart. As long as the channel support holds, uptrend could be expected to resume, and rebound would likely be seen after touching the channel. However, a clear break below the channel will indicate that the rise from 1.3837 had completed at 1.4535 already, then the following downward move could bring price back to 1.4000 area.
USDCAD Analysis.
USDCAD is facing 0.9529 resistance, a break above this level will suggest that lengthier consolidation of downtrend is underway, then further rally could be seen to 0.9600-0.9650 area. On the downside, downtrend could be expected to resume before breaking above 0.9529 resistance, and a breakdown below 0.9406 could signal resumption of downtrend.
USDCHF Analysis.
No changed in our view, USDCHF remains in downtrend from 0.8276. Further fall is still possible in a couple of days, and next target would be at 0.7800 area. Resistance levels are at 0.8070 and 0.8100, as long as these levels hold, downtrend will continue.
USDJPY Analysis.
USDJPY remains in downtrend, the bounce from 77.57 is treated as consolidation of downtrend. Resistance is at the downtrend line on 4-hour chart, only a clear break above the trend line could indicate that the fall from 81.47 is complete.
GBPUSD Analysis.
GBPUSD formed a cycle top at 1.6438 on 4-hour chart. Range trading between 1.6200 and 1.6438 is expected in a couple of days. As long as 1.6200 support holds, the fall from 1.6438 is treated as consolidation of uptrend from 1.5781, and another rise towards 1.6600 is still possible after consolidation.
AUDUSD Analysis.
AUDUSD is facing the support of the uptrend line on 4-hour chart, a clear break below the trend line will indicate that a cycle top had been formed at 1.1080, then range trading between 1.0900 and 1.1080 could be seen.
