AUDUSD Analysis.
Being supported by the lower border of the price channel on 4-hour chart, AUDUSD rebounded from 1.0481, suggesting that a cycle bottom has been formed on 4-hour chart. Further rise towards 1.0764 previous high is expected in a couple of days, a break above this level will signal resumption of the longer term uptrend from 0.9927. Key support is now at 1.0481, only break below this level could indicate that the uptrend from 0.9927 had completed at 1.0764 already.
USDCAD Analysis.
USDCAD has formed a cycle top at 0.9961 on 4-hour chart. Now the fall from 0.9961 would possibly be resumption of downtrend. Deeper decline towards 0.9725 previous low is expected in a couple of days. Key resistance is at 0.9961, only break above this level could trigger another rise towards 1.0300.
USDCHF Analysis.
USDCHF remains in uptrend from 0.7711. Further rise is still possible after a minor consolidation, and next target would be at 0.9000 area. Support is at 0.8450, as long as this level holds, uptrend from 0.7711 will continue.
GBPUSD Analysis.
GBPUSD remains in downtrend from 1.6453, and the fall extended to as low as 1.5917. Resistance is now located at the downtrend line on 4-hour chart, as long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 1.5850 area.
EURUSD Analysis.
EURUSD may be forming a cycle bottom at 1.3973 on 4-hour chart. Range trading between 1.3973 and 1.4200 would likely be seen in a couple of days. Key support is at 1.3973, only break below this level could trigger another fall to 1.3900 zone.
USDJPY Analysis.
After touching 77.69 resistance, USDJPY pulled back from 77.72, suggesting that a cycle top is being formed on 4-hour chart. Key support is now at 77.00, a break below this level will confirm the cycle top, then lengthier sideways movement could be seen to follow. However, as long as 77.00 support holds, the fall from 77.72 could be treated as consolidation of uptrend, and another rise towards 79.00 is still possible after consolidation.
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