Short Term Analysis - October 26, 2006
EURUSD
EURUSD bottomed at 1.2524 on 4 hours chart, and further rise above 1.2641 previous high can be seen in the next couple of days. Near term support is at 1.2524, only break below this level may pull price back towards 1.2483.
USDCHF
USDCHF topped at 1.2704 on 4 hours chart, further fall to test the previous low support at 1.2548 can be expected in the next several days. Near term resistance is at 1.2704, only break above this level may pull price back towards 1.2768.
GBPUSD
GBPUSD is in up trend, and further rise above 1.8860 previous high resistance is possible in the next several days. Key support is now at 1.8672, and as long as the key support holds, up trend will continue.
AUDUSD
Key resistance at 0.7613 is broken above, AUDUSD is back to up trend. Further rise towards 0.7650 level can be expected later today. Near term support is at the bottom of the rising price channel, and as long as the channel support holds, up trend will continue.
USDCAD
USDCAD is bottoming at 1.1202 on 4 hours chart, key resistance is at 1.1321, and a break above this level may confirm the cycle bottom. Key support is at 1.1202, a break below this level may signal the reversal to the up trend.
USDJPY
USDJPY topped at 119.64 on 4 hours chart, further fall towards 118.04 can be expected in the next several days, key resistance is at 119.64, only break above this level may signal the resumption of the up trend.
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