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Short Term Analysis – December 20, 2006

GBPUSD

20061220_gbpusd_1.gifThe resistance at 1.9578 is broken above, GBPUSD bottomed at 1.9433 on 4 hours chart, and further rise towards 1.9846 previous high is possible later today. Near term support is now at 1.9433, only break below this level may signal the resumption of the down trend.

USDJPY

20061220_usdjpy_1.gifUSDJPY traded in a narrow range between 117.80 and 118.30 yesterday. The pair is topping at 118.31 on 4 hours chart, key support is at 117.43, a break below this level may confirm the cycle top.

USDCHF

20061220_usdchf_1.gifUSDCHF is testing the support at 1.2115, a break below this level may label the cycle top at 1.2268 on 4 hours chart, and further fall towards 1.1983 previous low can be expected in the next couple of days.

USDCAD

20061220_usdcad_1.gifKey support at 1.1527 is broken below, USDCAD topped at 1.1587 on 4 hours chart, and further fall towards 1.1450 level can be expected in the next couple of days. Key resistance is at 1.1587, only break above this level may signal the resumption of the up trend.

AUDUSD

20061220_audusd_1.gifResistance at 0.7843 is broken above, AUDUSD bottomed at 0.7779 on 4 hours chart, and further rise towards 0.7892 is still possible later today. Key support is now at 0.7779, only break below this level may signal the resumption of the down trend.

EURUSD

20061220_eurusd_1.gifResistance at 1.3186 is broken above, EURUSD bottomed at 1.3051 on 4 hours chart, and further rise towards 1.3291 previous high is still possible later today. Key support is now at 1.3051, only break below this level may signal the resumption of the down trend.

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