GBPUSD is in up trend, the fall from 2.0191 is treated as consolidation to the up trend, and further rise towards 2.0462 (Aug 6 high) to reach the next cycle top on 4 hours chart is expected after consolidation. Near term support is at the price channel, now at 1.9955, and as long as the channel support holds, up trend will continue.
EURUSD is in up trend, the fall from 1.3684 is treated as consolidation to the up trend, and further rise towards 1.3750 to reach the next cycle top on 4 hours chart is expected after consolidation. Near term support is at the price channel, now at 1.3550, and as long as the channel support holds, up trend will continue.
Being supported by previous low at 1.0461, USDCAD bounded from 1.0469. The pair might be forming a short term cycle bottom at 1.0469 level, key resistance is at 1.0572, a break above this level will confirm the cycle bottom and further rise towards 1.0700 can be seen.
USDCHF is in down trend, the rise from 1.1992 is treated as consolidation to the down trend and further fall towards 1.1900 is expected to follow after consolidation. Near term resistance is at 1.2110, only break above this level will signal the resumption of the up trend.
Key support at 115.50 we mentioned yesterday is broken below, USDJPY topped at 117.11 on 4 hours chart. Further fall towards 113.00 is expected to follow in a couple of days. Key resistance is at 117.11, only break above this level will signal the resumption of the up trend.
AUDUSD is topping at 0.8334 on 4 hours chart, key support is at 0.8130, a break below this level will confirm the cycle top and pullback towards 0.7950 area is expected to follow. Near term resistance is at 0.8334, only break above this level will signal the resumption of the up trend.
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