Short Term Analysis – December 7, 2006

AUDUSD

20061207_audusd_1.gifAUDUSD is in correction to the up trend, and f further fall towards 0.7820 level is still possible in a couple of days. Key resistance is at 0.7925, a break above this level may signal the resumption of the up trend.

EURUSD

20061207_eurusd_1.gifEURUSD would form a sideways consolidation in a range between 1.3219 and 1.3362 in the next several days. Key resistance is at 1.3362, a break above this level may signal the resumption of the up trend.

GBPUSD

20061207_gbpusd_1.gifGBPUSD is in correction to the up trend, further fall towards 1.9600 level is still possible later today. Key resistance is at 1.9846, a break above this level may signal the resumption of the up trend.

USDCAD

20061207_usdcad_1.gifUSDCAD is testing 1.1492 previous high resistance, and this resistance would more likely be held. The next cycle top on 4 hours chart is nearing, key support is at 1.1375, a break below this level may confirm the cycle top.

USDJPY

20061207_usdjpy_1.gifUSDJPY is in down trend and fall below 114.41 is possible later today. Near term resistance is at the down trend line, and followed by 115.82, only break above 118.82 can signal the reversal to the down trend.

USDCHF

20061207_usdchf_1.gifUSDCHF is in correction to the down trend, further rise above near term resistance at 1.2007 is possible later today. Key resistance is at 1.2115, only break above this level may signal the reversal to the down trend.