GBPUSD Analysis.

GBPUSD formed a short term  cycle bottom at 1.6113 level on 4-hour chart. Further rise to test the  resistance of the upper border of the falling price channel is expected  later today. Key resistance remains at 1.6623, as long as this level  holds, we'd expect downtrend to resume, and another fall towards 1.5900  is possible before breaking above 1.6623 level. However, above 1.6623  will suggest that the downtrend from 1.7042 has completed at 1.6113  level.


USDCAD Analysis.

USDCAD broke below the rising  trend line from 1.0718 to 1.0791 and reached as low as 1.0823,  suggesting that a short term cycle top has been formed at 1.1101 level  on 4-hour chart. Deeper decline is possible to test 1.0718 support in a  couple of days. Near term resistance is at 1.0885 followed by 1.0925,  as long as these levels hold, downtrend from 1.1101 will continue.


AUDUSD Analysis.

AUDUSD broke above 0.8477 key  resistance. Now the uptrend from 0.7703 has resumed. Further rise to  0.8700 zone is expected in a couple of days. Near term support is at  0.8495 followed by 0.8460, as long as these levels hold, uptrend from  0.8239 will continue.


EURUSD Analysis.

EURUSD stays in a trading  range between 1.4177 and 1.4405. Further rise to test 1.4405 would more  likely be seen later today, a break above this level will indicate that  the uptrend from 1.3748 (June 16 low) has resumed, then next short term  target would be at 1.4550-1.4600 area. Near term support is at 1.4177,  only fall below this level will take price to 1.4050-1.4100 area.


USDCHF Analysis.

USDCHF continues its range  trading between 1.0530 and 1.0714. As long as 1.0714 resistance holds,  we'd expect downtrend to continue and deeper decline to 1.0450-1.0500  area is possible. However, above 1.7014 will indicate that the  downtrend from 1.0883 has completed at 1.0530 level already, then the  following uptrend will take price towards 1.1000 zone.


USDJPY Analysis.

USDJPY broke above the  falling trend line on 4-hour chart, suggesting that a short term cycle  bottom has been formed at 91.94 level. Range trading between 91.94 and  93.42 is expected in a couple of days. However, the rise from 91.94 is  more likely consolidation of downtrend from 97.78, another fall towards  89.00-90.00 area is still possible after consolidation.