USDCAD formed a cycle top at 1.0322 level on daily chart. Sideways consolidation between 1.0000 and 1.0322 would could be seen in a couple of weeks. However, a break above 1.0322 level will indicate that long term up trend has resumed and further rise to 1.1000 area is expected to follow.

USDCHF broke below the up trend line from 0.9634 to 1.0147. Deeper decline is possible to 1.0000 area in a couple of weeks. Key resistance is at 1.0539, only break of this level will signal resumption of long term up trend.

USDJPY broke below the price channel support and formed a cycle top at 108.58 on daily chart. Deeper decline to 104.00 area could be seen next week. Key resistance is located at 108.58, only rise above this level will signal resumption of long term up trend.

AUDUSD's up trend remains. Further rise above 0.9653 resistance to reach next cycle top on daily chart is still in favor. Initial support is at 0.9450 and key support is at 0.9327, only break down below this level will indicate lengthier consolidation is underway, and then deeper decline to 0.9100 area is expected to follow.

GBPUSD broke above 1.9852 resistance and reached as high as 1.9952 level. Further rise to 2.0200 area could be seen in a couple of weeks. Initial support is at 1.9650, only break down below this level will signal reversal to up trend.

EURUSD formed a cycle bottom at 1.5302 on daily chart. Further rise to test 1.6019 (Apr 22 high) could be seen in a couple of weeks. A break of 1.6019 level will indicate that the sideways consolidation in range between 1.5284 and 1.6019 has completed and long term up trend has resumed. As long as 1.6019 resistance holds, we'd expect down trend to resume, and pullback to retest 1.5284 previous low is possible.

USDCAD formed a cycle top at 1.0322 level on daily chart. Range trading between 1.0000 and 1.0322 would more likely be seen before breaking above 1.0322. However, a break above 1.0322 level will indicate that long term up trend has resumed and further rise to 1.1000 area is expected to follow.

USDCHF might be forming a cycle top at 1.0539 on daily chart. Lengthier consolidation would more likely be seen and pullback to test the support of the up trend line from 0.9634 to 1.0147 is expected. Key support is at 1.0147, a break below this level will turn price back to 0.9850 area. Initial resistance is at 1.0539, rise above this level will indicate that the range trading between 1.0147 and 1.0623 has completed and further rise to 1.0800 area could be seen.

USDJPY might be forming a cycle top at 108.58 on daily chart. Sideways consolidation would more likely be seen and pullback to retest the support of the price channel is expected in next few days. Initial resistance is at 108.58, a break above this level will signal resumption of up trend. Initial support is at the edge of the price channel and key support is located at 104.44, only fall below this level will signal reversal to current trend.

No changed in our view, AUDUSD formed a cycle bottom at 0.9327 on daily chart. Further rise to 0.9800 area is now in favor. Key support is at 0.9327, only break down below this level will indicate lengthier consolidation is underway, and then deeper decline to 0.9100 area is expected to follow.