Short Term Analysis – February 13, 2007

USDCAD

20070213_usdcad_1.gifUSDCAD is in down trend, further fall towards 1.1644 previous low to reach the next cycle bottom on 4 hours chart is still possible in the next several days. Near term resistance is at 1.1790 and followed by 1.1810.

USDJPY

20070213_usdjpy_1.gifUSDJPY fall below the up trend line support and is topping at 122.05 on 4 hours chart, key support is at 120.97, a break below this level will confirm the cycle top, and further fall towards 119.94 previous low can be expected.

USDCHF

20070213_usdchf_1.gifUSDCHF’s rise from 1.2378 extended to as high as 1.2551 yesterday. Further rise towards 1.2571 to reach the next cycle top on 4 hours chart is still possible later today. Near term support is at the up trend line from 1.2378 to 1.2458, break below the trend line support will signal the reversal to the current bias.

AUDUSD

20070213_audusd_1.gifAUDUSD is in correction to the down trend and further fall towards 0.7695 to reach the next cycle bottom on 4 hours chart is till possible later today. Near term resistance is at 0.7775. Key support is at 0.7695, a break below this level may signal the resumption of the down trend.

GBPUSD

20070213_gbpusd_1.gifGBPUSD is in down trend and further fall towards 1.9260 previous low to reach the next cycle bottom is still possible in the next several days. Near term resistance is at the down trend line, and the key resistance is at 1.9566, only break above this key resistance may signal the reversal to the down trend.

EURUSD

20070213_eurusd_1.gifEURUSD is falling towards 1.2911 to reach the next cycle bottom on 4 hours chart, near term resistance is at 1.2980 and followed by 1.3042. Near term support is at 1.2911 and followed by 1.2876, key support is at 1.2865, a break below the key support will signal the resumption of the down trend.