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GBPUSD Analysis. GBPUSD rebounds from 1.6275 and the uprise extends to as broad as 1.6592 level. Further rally to effort 1.6663 previous broad status is still doable later today. As long as this level holds, we’d wait downtrend to uphold and deeper fall to 1.6000 zone is possible. However a break above 1.6663 level will inform that the downtrend from 1.7042 has completed, then the following uptrend could take price back to re-test 1.7042 resistance.
EURUSD Analysis. After breaking below 1.4086 support, EURUSD moves sideways and trades in a narrow range between 1.4045 and 1.4148. Further uprise to 1.4250 zone to reach the next brief constituent wheel top on 4-hour chart could be seen in a pair of days. However, the uprise from 1.4045 is treated as compounding of downtrend, as long as 1.4327 key status holds, we’d wait downtrend to uphold and deeper fall to 1.3800 is still possible.
USDCHF Analysis. USDCHF trades in a range between 1.0670 and 1.0883. Moving sideways without trend in this range is expected in a pair of days. As long as 1.0670 support holds, we’d wait uptrend to uphold and one more uprise to effort 1.0883 is still possible.
USDCAD Analysis. After breaking above 1.1075 resistance, USDCAD pulls back from 1.1124 level. However, the fall from 1.1124 is more probable compounding of uptrend. Range trading between 1.0950 and 1.1124 is expected in a pair of days. Key support is at the rising trend line from 1.0632 to 1.0795, as long as the trend line support holds, uptrend will continue.
USDJPY Analysis. USDJPY remains in downtrend from 97.78 and the rebound from 94.20 is treated as compounding of downtrend. Deeper fall is still doable to 93.50-94.00 area after consolidation. Key status is now located at 95.28, only break above this level will inform that a brief constituent wheel bottom has been formed at 94.20 level on 4-hour chart, then further rally could be seen to 95.70 zone.
AUDUSD Analysis. After impinging 0.8180 support, AUDUSD rebounds from 0.8155 level. However, the uprise from 0.8155 is more probable compounding of downtrend. Deeper fall is still doable to 0.7900 zone after consolidation. Near constituent status is at 0.8330 and key status is at 0.8477.
