AUDUSD is testing the price channel support, break below 0.8570 level will indicate lengthier correction to the up trend is underway, and pullback towards 0.8028 previous low can be expected in a couple of days. Near term resistance is at 0.8108, only break above this level will signal the resumption of the up trend.
No changed in our view, EURUSD topped at 1.3410 on 4 hours, the rise from 1.3253 is treated as in correction to the down trend, further fall towards 1.3086 previous low is still in favor, and a break below 1.3253 level will confirm such case. Key resistance is at 1.3410, only break above this level will signal the resumption of the up trend.
As expected, USDCAD is forming a sideways consolidation in a range between 1.1528 and 1.1635. Rise above 1.1635 to reach the next cycle top on 4 hours chart is possible in the next several days.
No changed in our view, GBPUSD is topping at 1.9726 on 4 hours chart, key support is at 1.9571, a break below this level will confirm the cycle top. Near term resistance is at 1.9726, only break above this level may signal the resumption of the up trend.
Key support at 1.2116 is broken below, USDCHF topped at 1.2227 on 4 hours chart. Further fall towards 1.2029 previous low is possible later today, and a break below 1.2029 level will signal the resumption of the down trend.
USDJPYNo changed in our view, USDJPY is in rising Wedge Pattern, further rise above 118.49 previous high to reach the next cycle top is still possible later today, and the next cycle top is nearing. Key support is at 117.38, a break below this level will confirm the cycle top.
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