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USDCHF Analysis. USDCHF’s rise extended to as high as 0.9148, the subsequent pullback is treated as consolidation of uptrend. Support remains at the uptrend line on 4-hour chart, as long as the trend line support holds, uptrend could be expected to resume, and another rise towards 0.9314 previous high is still possible. On the other side, a clear break below the trend line will indicate that a cycle top has been formed at 0.9148, and the rise from 0.8569 has completed.

EURUSD Analysis. EURUSD remains in downtrend, the rise from 1.3484 would possibly be minor consolidation of downtrend. Another fall is still possible after consolidation, and next target would be at 1.3400 area. Initial resistance is at 1.3655, only break above this level could indicate that a cycle bottom is being formed at 1.3484 on 4-hour, then further rally could be seen to 1.3750 zone.

GBPUSD Analysis. GBPUSD broke below 1.5877 support, suggesting that lengthier consolidation of uptrend from 1.5272 is underway.

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USDJPY Analysis. USDJPY stays below a downtrend line on 4-hour chart, and remains in short term downtrend from 77.85. As long as the trend line resistance holds, downtrend could be expected to continue, and on more fall to test 75.96 support is still possible, a breakdown below this level could signal resumption of the long term downtrend from 124.16 . On the other side, a clear break above the trend line resistance will indicate that the fall from 77.85 is complete, and lengthier consolidation of the longer term downtrend from 85.51 is underway.

EURUSD Analysis. EURUSD broke below 1.3499 support and is now in downtrend from 1.3936, the price action from 1.3386 is treated as consolidation of downtrend. Resistance is at 1.3600, as long as this level holds, we’d expected downtrend to resume, and another fall towards 1.3200 is still possible.

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AUDUSD Analysis. AUDUSD is facing 1.0789 resistance, a break above this level will indicate that the uptrend from 1.0390 has resumed, then another rise towards 1.1011 previous high could be seen. However, as long as 1.0789 resistance holds, lengthier consolidation of uptrend is expected to continue, and one more fall to 1.0635 area to reach next cycle bottom on 4-hour chart is possible.

USDJPY Analysis. USDJPY broke above 81.25 resistance, and continued its upward move from 79.69. Further rise is expected later today, and target would be at 81.80 area. Key support is at the uptrend line on 4-hour chart, only a clear break below the trend line could indicate that the rise from 79.69 is complete.

EURUSD Analysis. EURUSD’s downward move extended further to as low as 1.4221, the subsequent bounce suggests that a cycle bottom is being formed on 4-hour chart.

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USDCAD Analysis. Being supported by the uptrend line from 0.9444 to 0.9669, USDCAD rebounded from 0.9701. Range trading between 0.9669 and 0.9898 would likely be seen in a couple of days. As long as 0.9669 key support holds, the price action in the range is treated as consolidation of uptrend from 0.9444, and one more rise towards 1.0000 is still possible after consolidation. However, a breakdown below 0.9669 will indicate that the uptrend from 0.9444 had completed at 0.9898 already, then the following downward move could bring price to 0.9500-0.9550 area.

AUDUSD Analysis. AUDUSD continued its downward movement from 1.0773 and reached as low as 1.0454. Another fall is still possible later today, and next target would be at 1.0400 area. Resistance is at 1.0649, only break above this level could trigger another rise towards 1.1011 previous high.

GBPUSD Analysis. GBPUSD’s downward movement from 1.6546 extended to as low as 1.5938.

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USDCAD Analysis. USDCAD had reached the uptrend line from 0.9444 to 0.9669. Deeper decline to test 0.9669 support would likely be seen later today, a breakdown below this level will confirm that the rise from 0.9444 had completed at 0.9898 already, then the following downward move could bring price back to 0.9500-0.9600 area. However, as long as 0.9669 support holds, the fall from 0.9898 is treated as consolidation of uptrend from 0.9444, and one more rise towards 1.0000 is still possible.

AUDUSD Analysis. AUDUSD’s rise from 1.0477 was limited by the upper border of the price channel on 4-hour chart. The fall from 1.0649 would possibly be resumption of downtrend from 1.0773. Deeper decline to test 1.0440 support would likely be seen. Key resistance is at the upper border of the channel, only a clear break above the channel could trigger another rise towards 1.1011 previous high.

GBPUSD Analysis. GBPUSD broke below 1.6059 support and reached as low as 1.6021.

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USDJPY Analysis.
USDJPY formed a cycle top at 88.11 level on 4-hour chart. Now the fall from 88.11 is treated as resumption of downtrend from 92.88 (Jun 4 high). Further fall towards 84.82 (2009 low) is expected in next several days. Key resistance is at 88.11, only rise above this level could indicate that lengthier consolidation of downtrend is underway.

USDCHF Analysis.
USDCHF failed to break above 1.0675 key resistance and dropped sharply to as low as 1.0374 level. A cycle top had been formed at 1.0639 on 4-hour chart. Further decline could be seen in next several days and next target would be at 1.0200 area.

EURUSD Analysis.
EURUSD’s uptrend from 1.2732 level extends to as high as 1.3106. Support levels are at 1.3010 and 1.2960, as long as these levels hold, uptrend will continue.

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