EURUSD Analysis.

Being contained by 1.3793 key support, EURUSD rebounds from 1.3804 level. However, the rise from 1.3804 is treated as consolidation of downtrend from 1.4338. Pullback to re-test 1.3793 would more likely be seen later today. A break down below this level will signal deeper decline to 1.3600-1.3650 area. Near term resistance is at 1.4080, only rise above this level will indicate that the fall from 1.4338 has completed, and then range trading between 1.3793 and 1.4338 could be seen to follow.

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AUDUSD Analysis.

AUDUSD breaks below 0.7913 support. Deeper decline is expected to 0.7700-0.7750 area later today. Near term resistance is at the falling trend line from 0.8263 to 0.8121. A clear break above the trend line resistance will indicate that the fall from 0.8263 has completed.

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USDCAD Analysis.

USDCAD remains in short term uptrend from 1.0784. Further rise towards 1.1400 to reach the next short term cycle top on 4-hour chart is expected in a couple of days. Key support is at 1.0928, below this level will indicate that the rise from 1.0784 has completed and the downtrend from 1.3063 has resumed.

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USDCHF Analysis.

USDCHF remains in short term uptrend from 1.0590. Further rise is still possible to 1.1050-1.1100 area. Near term support is at 1.0750, below this level will indicate that the rebound from 1.0590 has completed, then deeper decline could be seen to test 1.0590 previous low support.

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USDJPY Analysis.

USDJPY traded in a narrow range between 98.20 and 98.90 in last trading day. Further rise is still in favor and next target is to test 99.64 (May 7 high) resistance. Near term support is at 97.70, as long as this level holds, the uptrend from 94.44 will continue.

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GBPUSD Analysis.

Being contained by the key support of 1.5777, GBPUSD rebounds from 1.5801 level. The pair might be forming a short term cycle bottom on 4-hour chart. Rise to 1.6300-1.6400 area is expected in a couple of days. However, a break down below 1.5777 level will indicate that the uptrend from 1.4397 has completed at 1.6662 level already, and then the following downtrend will take price to 1.5500 zone.

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