USDCAD Analysis.
After touching 1.0038 resistance, USDCAD dropped from 1.0050, suggesting that lengthier consolidation of the downtrend from 1.0318 is underway. Deeper decline to test 0.9925 support would likely be seen later today, a breakdown below this level will signal resumption of the downtrend, then next target would be at 0.9800 area.
USDCHF Analysis.
USDCHF has formed a cycle top at 0.9300 on 4-hour chart. Deeper decline to test 0.9088 support would likely be seen later today, a breakdown below this level will signal resumption of the downtrend from 0.9594, then next target would be at 0.9000 zone.
EURUSD Analysis.
EURUSD’s fall from 1.3320 reaches 1.2975 only, the subsequent bounce would possibly be resumption of the uptrend from 1.2624. Further rise to test 1.3320 resistance would likely be seen, a break above this level will target 1.3500 area.
AUDUSD Analysis.
AUDUSD breaks above 1.0780 resistance, suggesting that a cycle bottom has been formed at 1.0628 on 4-hour chart. The rise from 1.0628 would possibly be resumption of the uptrend from 1.0145. Further rise towards 1.0900 is possible over the next several days.
USDJPY Analysis.
USDJPY’s rise from 76.02 extends to as high as 79.17. Further rise is expected over the next several days, and next target would be at 79.50 area. Support is at 78.50 followed by the upward trend line on 4-hour chart, as long as the trend line support holds, uptrend will continue.
GBPUSD Analysis.
GBPUSD breaks above the downward trend line resistance, suggesting that the fall from 1.5928 has completed at 1.5645 already. Further rise towards 1.5928 previous high would likely be seen, as long as this level holds, the rise is treated as correction of the downtrend from 1.5928, and another fall towards 1.5236 is still possible.
