EURUSD Analysis.

EURUSD has formed a short  term cycle top at 1.4375 on 4-hour chart. Deeper decline to test 1.4200  support is possible later today, a break down below this level will  suggest that the uptrend from 1.4045 has completed at 1.4375 already,  then further fall could be seen to follow and target is to test 1.4045  previous low support. Near term resistance is at 1.4290, and key  resistance is at 1.4375, only rise above this level will indicate that  the uptrend from 1.4145 has resumed, then further rise towards 1.4500  is expected.

AUDUSD Analysis.

AUDUSD drops sharply to as  low as 0.8252 level, suggesting that a short term cycle top has been  formed at 0.8428 on 4-hour chart. Deeper decline is now in favor and  next target is to test 0.8155 support. Near term resistance is at  0.8335, as long as this level holds, downtrend from 0.8428 will  continue.

GBPUSD Analysis.

GBPUSD broke below 1.6275  support and dropped sharply to as low as 1.6159 level. Deeper decline  towards 1.6000 is still possible in a couple of days. Near term  resistance is at 1.6310 followed by 1.6445, as long as these levels  hold, downtrend from 1.6623 will continue.

USDCAD Analysis.

USDCAD failed to break below  1.0632 and rebounded sharply from 1.0718. The pair has formed a short  term cycle bottom at 1.0718 level on 4-hour chart. Further rise is  still possible to test 1.1124 previous high resistance, a break above  this level will signal further rally towards 1.1400 zone. Near term  support is at 1.0925 followed by 1.0890, as long as these levels hold,  uptrend from 1.0718 will continue.

USDJPY Analysis.

No changed in our view,  USDJPY stays in a trading range between 93.42 and 95.05. Moving  sideways in this range is expected in a couple of days. As long as  95.28 key resistance holds, we'd expect downtrend to resume and deeper  decline to 90.00 zone is still possible after consolidation.

USDCHF Analysis.

USDCHF breaks above the  resistance of the upper border of the falling price channel. Further  rise to 1.0750 zone is expected. However, the rise from 1.0553 is more  likely correction of downtrend from 1.0883, and another fall is still  possible after correction.