Short Term Analysis - December 20, 2006
GBPUSD
The 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
USDJPY 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
USDCHF 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
Key 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
Resistance 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
Resistance 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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