Free Forex Market Analysis

USDCHF may be forming a cycle top at 0.9233 on 4-hour chart. Key support is now at 0.9139, a breakdown below this level will confirm the cycle top, then another fall towards 0.8922 previous low could be seen. Immediate resistance is at 1.9233, only break above this level could indicate that the uptrend from 0.8922 has resumed, then next target would be at 0.9300-0.9350 area.



Forex Signals

GBPUSD’s fall from 1.6400 extended further to as low as 1.5936. Resistance is at 1.6045, as long as this level holds, downtrend from 1.6400 could be expected to continue, and next target would be at 1.5800-1.5900 area. However, a break above 1.6045 will indicate that a cycle bottom is being formed on 4-hour chart, then another rise towards 1.6400 previous high could be seen.



Forex Signals

USDCHF’s bounce from 0.8922 extended further to as high as 0.9227. However, next cycle top is nearing, another fall would likely be seen later today. Key support is at the rising trend line on 4-hour chart, a clear break below the trend line support will indicate that a cycle top has been formed, and the downtrend from 0.9774 (Feb 11 high) has resumed, then deeper decline could be seen to 0.8700 zone.



Daily Forex Forecast

AUDUSD’s upward move from 0.9704 extended to as high as 1.0227. Now the pair is facing 1.0255 (Dec 31, 2010 high) resistance. Minor consolidation would likely be seen before breaking above this level. Support is at 1.0130, below this level will indicate that consolidation of uptrend is underway, then the pair will find support at 1.0050. On the upside, if 1.0255 resistance gives way, next target would be at 1.0400 zone.



Daily Forex Analysis