USDCHF Analysis.
USDCHF broke above 0.8958 resistance, suggesting that the uptrend from 0.8569 had resumed. Further rise is still possible in a couple of days, and target would be at 0.9150-0.9200 area. Support is now at the uptrend line on 4-hour chart, a clear break below the trend line will indicate that the uptrend from 0.8569 is complete, then the following downward movement could bring price back to 0.8000.
EURUSD Analysis.
EURUSD traded in a narrow range between 1.3609 and 1.3866 for several days. One more rise to 1.3950-1.4000 area to reach next cycle top on 4-hour is still in favor. Key support is at 1.3609, only break below this level could signal resumption of downtrend.
GBPUSD Analysis.
GBPUSD’s rise from 1.5877 would possibly be resumption of uptrend from 1.5272. Further rise to test 1.6164 previous high resistance is expected later today, a break above this level could trigger another rise towards 1.6400. Key support is at 1.5877, only break below this level could indicate that lengthier consolidation of uptrend is underway.
USDCAD Analysis.
USDCAD remains in uptrend from 0.9891, the price action from 1.0222 is treated as consolidation of uptrend. Pullback to 1.0000 area to complete the consolidation would likely be seen. Key resistance is at 1.0230, a break above this level could trigger another rise to 1.0350-1.0400 area.
AUDUSD Analysis.
AUDUSD had formed a cycle bottom at 1.0202 on 4-hour chart. Further rise to 1.0550 area to reach next cycle top is possible. Key support is at 1.0202, only break below this level could trigger another fall to 1.0000 zone.
USDJPY Analysis.
USDJPY continued its sideways consolidation in a range between 77.68 and 78.96. Lengthier consolidation in the range is expected in a couple of days. Support is at 77.68, a breakdown below this level will target 77.00 zone.
