AUDUSD Analysis.
AUDUSD is facing the support of the price channel on 4-hour chart, a clear break below the channel support will confirm that the longer term uptrend from 0.9927 has completed at 1.0764 already, then the following downward move could bring price to 1.0250 area. However, rebound from the channel support is possible later today. Resistance is at 1.0555, a break above this level will suggest that a cycle bottom is being formed, then another rise towards 1.0900 could be seen.
USDCAD Analysis.
USDCAD broke above the upper border of the price channel on 4-hour chart. Key support is now at 0.9850, as long as this level holds, uptrend from 0.9725 could be expected to continue, and further rise towards 1.0009 previous high is still possible. However, a breakdown below 0.9850 will indicate that a cycle top is being formed, then another fall towards 0.9600 could be seen.
USDCHF Analysis.
USDCHF formed a cycle bottom at 0.7711 on 4-hour chart. The price action from 0.7711 is treated as correction of downtrend from 0.8240, further rise to 0.8100 area to reach next cycle top is expected. Support is at 0.7711, only break below this level could signal resumption of downtrend.
GBPUSD Analysis.
GBPUSD continued its downward move yesterday, and the fall from 1.6453 extended to as low as 1.6061. Further fall is still possible after a minor consolidation, and next target would be at 1.5950 area. Resistance is now at 1.6160, as long as this level holds, downtrend will continue.
EURUSD Analysis.
EURUSD remains in downtrend from 1.4548, and the fall extended to as low as 1.4058. Resistance is now at 1.4150, as long as this level holds, downtrend could be expected to continue, and next target would be at 1.3950 area.
USDJPY Analysis.
USDJPY moved sideways in a range between 75.96 and 77.69 for several days. Lengthier consolidation in the range could be expected in a couple of days. Key resistance is at 77.69, a break above this level could trigger another rise to 79.00 area. Support is at 75.96, only break below this level could signal resumption of downtrend.
