USDCHF formed a sideways consolidation in a narrow range. Further fall towards 1.1879 (2006 low) is still in favor after consolidation. Near term resistance is at 1.2067, and break above this level to reach the next cycle top on 4 hours chart is possible before the resumption of the down trend.
No changed in our view, USDJPY bottomed at 122.96 on 4 hours chart, further rise towards 124.13 previous high can be seen in the next several days, and a break above this level will signal the resumption of the up trend. Near term support is at 120.96, only break below this level will indicate lengthier correction to the up trend.
GBPUSD is in up trend, the rise from 1.9621 extended to as high as 2.0403. Further rise towards 2.0500 is still possible in the next several days. Near term support is at 2.0260 and followed by the up trend line from 1.9657 to 2.0056, now at 2.0220.
As expected, USDCAD broke below 1.0442 and reached as low as 1.0415, further fall towards 1.0400 is still possible later today. On the other side, the short term cycle bottom on 4 hours chart is nearing, a break above 1.0500 will signal the consolidation to the down trend.
EURUSD is in up trend, the rise from 1.3262 extended to as high as 1.3813, further rise towards 1.3900 is expected to follow in the next several days. Near term support is at the up trend line from 1.3422 to 1.3594, and as long as the trend line support holds, up trend will continue.
No changed in our view, AUDUSD is in up trend, the rise from 0.8355 extended to as high as 0.8759, sharply rise towards 0.8800 is still possible in a couple of days. Near term support is at 0.8600, as long as this support holds, up trend will continue.
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