USDCHF Analysis.
USDCHF traded in a narrow range between 0.9114 and 0.9249 for several days. The price action in the range could be treated as consolidation of downtrend from 0.9594. Key resistance is at 0.9350, as long as this level holds, downtrend could be expected to resume, and one more fall towards 0.8900 is still possible. However, a break above 0.9350 will indicate that the downward movement from 0.9594 had completed at 0.9114 already, then the following upward move could bring price back towards 0.9594 previous high.
EURUSD Analysis.
EURUSD is in correction of the uptrend from 1.2624. Pullback to 1.2800-1.2900 area to complete the correction would likely be seen over the next several days. Key resistance is at 1.3233, only break above this level could signal resumption of the uptrend.
AUDUSD Analysis.
AUDUSD stays in a upward price channel on 4-hour chart, and remains in uptrend from 1.0145, the fall from 1.0755 is treated as consolidation of uptrend. Initial support is at the lower line of the price channel on 4-hour chart, as long as the trend line support holds, uptrend could be expected to resume, and one more rise towards 1.0900 is still possible.
USDJPY Analysis.
USDJPY may be forming a cycle bottom at 76.02 on 4-hour chart, bounce to test 76.55 resistance would likely be seen later today, a break above this level will confirm the cycle bottom, then further rally could be seen to 76.90 area.
USDCAD Analysis.
USDCAD stays below a downward trend line on 4-hour chart and remains in downtrend from 1.0318. As long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 0.9900 area., only a clear break above the trend line could signal completion of the downtrend.
GBPUSD Analysis.
GBPUSD pulled back from 1.5882 and is now facing the support of the upward trend line on 4-hour chart, as long as the trend line support holds, the pullback is treated as consolidation of uptrend, and one more rise towards 1.6000 is still possible, only a clear break below the trend line could signal completion of the uptrend.
