GBPUSD Analysis.
Being contained by 1.5327 support, GBPUSD rebounded from 1.5341, suggesting that a cycle bottom is being formed on 4-hour chart. Further rally would likely be seen in a couple of days, and target would be at 1.5800 zone. On the downside, another fall to re-test 1.5327 key support is still possible, a breakdown below this level could signal resumption of the longer term downtrend from 1.6617.
USDCHF Analysis.
USDCHF remains in uptrend from 0.7711. As long as the channel support holds, uptrend could be expected to continue, and next target would be at 0.9500 area, only a clear break below the channel could indicate that the rise from 0.7711 is complete.
USDJPY Analysis.
USDJPY is testing that support of the uptrend line on 4-hour chart, as long as the trend line support holds, the short term uptrend from 76.09 could be expected to continue. However, a clear break below the trend line will indicate that the rise from 76.09 has completed at 77.25 already, then deeper decline towards 75.96 key support could be seen.
AUDUSD Analysis.
AUDUSD is in downtrend from 1.0764, the bounce from 0.9390 is treated as consolidation of downtrend. Key resistance remains at the downtrend line on 4-hour chart, as long as the trend line resistance holds, downtrend could be expected to resume, and another fall towards 0.9300 could be seen after consolidation.
EURUSD Analysis.
EURUSD is in downtrend from 1.4548, the rise from 1.3146 is treated as consolidation of downtrend. Key resistance is now at the downtrend line on 4-hour chart, as long as the trend line resistance holds, we’d expect downtrend to resume, and another fall towards 1.3000 could be seen.
USDCAD Analysis.
USDCAD stays above a uptrend line on 4-hour chart, and remains in uptrend from 1.0143, and the rise extended further to as high as 1.0656. As long as the trend line support holds, uptrend could be expected to continue, and next target would be at 1.0800 area.
