Short Term Analysis - December 13, 2006
GBPUSD
GBPUSD is testing the key resistance at 1.9728, a break above this level may label the cycle bottom at 1.9463 on 4 hours chart, and further rise above 1.9846 previous high is possible in the next several days.
USDJPY
USDJPY is topping at 117.24 on 4 hours chart, key support is at 115.50, a break below this level may confirm the cycle top. Near term resistance is at 117.24, only break above this level may signal the resumption of the up trend, and further rise towards 118.00 can be expected.
USDCHF
USDCHF is topping at 1.2097 on 4 hours chart. Key support is at 1.1910, a break below this level may confirm the cycle top, and further fall below 1.1879 previous low is possible in the next several days..
AUDUSD
AUDUSD is bottoming at 0.7812 on 4 hours chart, key resistance is at 0.7900, and a break above this level may confirm the cycle bottom, and further rise above 0.7929 previous high is possible in the next several days.
USDCAD
No change in our view, USDCAD is in up trend, further rise towards 1.1600 can be expected in the next several days. Near term support is at the up trend line from 1.1285 to 1.1444, and as long as the trend line support holds, up trend will continue.
EURUSD
EURUSD is bottoming at 1.3129 on 4 hours chart, key resistance is at 1.3300, and a break above this level may confirm the cycle bottom, and further rise above 1.3364 previous high is possible in the next several days.
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