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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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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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