AUDUSD is in correction to the medium term up trend. The rise from 1.8233 was limited by the up trend line from 0.7680 to 0.8063 and pulled back from 0.8358 level. Further fall towards 0.8200 is still possible in the next several days. Key resistance is at 0.8392, only break above this level will signal the resumption of the up trend.
As expected, USDJPY broke above 119.03 and reached as high as 119.74 so far. Further rise above 119.86 previous high to reach the next cycle top on 4 hours chart is still possible later today. Key support is at 118.22, only break below this level will signal the reversal to the up trend.
USDCAD broke above the down trend line from 1.1394 to 1.1338, and is bottoming at 1.1133 on 4 hours chart, key resistance is at 1.1246, a break above this level will confirm the cycle bottom. Near term support is at 1.1133, only break below this level will signal the resumption of the down trend.
USDCHF rebounded from 1.1993 and reached as high as 1.2098. Further rise towards 1.2126 is still possible later today, a break above this level will signal the reversal to the down trend. Near term support is at 1.1993, only break below this level will signal the resumption of the down trend.
No changed in our view, GBPUSD topped at 2.0132 on 4 hours chart. Consolidation of the up trend can be expected in the next several days. The price will find support at the up trend line from 1.9212 to 1.9590. Key resistance is at 2.0132, a break above this level will signal the resumption of the up trend.
EURUSDEURUSD failed to test the long term resistance at 1.3668 (2004 high), and fall below the price channel support. Further decline towards 1.3540 previous low is still possible later today, a break below this level will signal the reversal to the up trend.
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