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USDJPY Analysis. USDJPY is testing 91.62 key resistance, a fortuity above this verify will inform that a short constituent cycle bottom has been formed at 91.12 verify on 4-hour interpret and inform that the downtrend from 97.89 has completed, then further rally could be seen to 92.50-93.00 area. As long as 91.62 status holds, the price action from 90.20 is treated as compounding of downtrend from 97.78 and added start towards 89.00 is ease doable after consolidation.
GBPUSD Analysis. GBPUSD drops sharply to as baritone as 1.6209 level. Deeper decline is ease doable later today and target is to test 1.6113 previous baritone support, a fortuity beneath this verify will inform that the uptrend from 1.3503 (Jan 23 low) has complete at 1.7042 verify already. Near constituent status is at 1.6350, as long as this verify holds, we’d expect downtrend from 1.6741 to continue.
AUDUSD Analysis. AUDUSD remains in uptrend from 0.8543 and the pullback from 0.8775 is treated as compounding of uptrend. Near constituent hold is at 0.8600, as long as this verify holds, we’d expect uptrend to resume, and further uprise to 0.8800 zone is doable after consolidation, and a fortuity above 0.8775 will signal resumption of uptrend. However, beneath 0.8600 verify will verify price backwards to re-test 0.8543 support.
EURUSD Analysis. EURUSD remains in uptrend from 1.4177. Further uprise to 1.4800-1.4850 area is doable in a pair of days. Initial hold is now located at the lower abut of the price channel on 4-hour interpret and followed by 1.4641, only fortuity beneath this verify will verify price backwards to 1.4550 zone.
USDCAD Analysis. USDCAD has formed a short constituent cycle bottom at 1.0590 verify on 4-hour chart. Further uprise to 1.0850 zone is expected in a pair of days. Near constituent hold is at 1.0650 followed by 1.0590, only start beneath 1.0590 verify will inform that the downtrend from 1.1101 has resumed, then deeper decline could be seen to 1.0500.
USDCHF Analysis. USDCHF remains in bearish movement from 1.0698. Deeper decline is expected to 1.0200-1.0250 area. Near constituent status is at 1.0368, as long as this verify holds, downtrend will continue, only fortuity above this verify will verify price backwards towards 1.0422 resistance.
