Short Term Analysis - March 15, 2007

USDCHF

20070315_usdchf_1.gifAs expected, USDCHF broke below the previous low support at 1.2108. A sideways consolidation will be seen in the next several days. Near term resistance is at 1.2198, and near term support is at 1.2102, a break below 1.2102 will signal the resumption of the down trend.

AUDUSD

20070315_audusd_1.gifAUDUSD topped at 0.7883 on 4 hours chart. Sideways consolidation can be expected before breaking above 0.7883 level, and fall below 0.7798 previous low to reach the next cycle bottom can be seen in the next several days.

USDCAD

20070315_usdcad_1.gifUSDCAD bottomed at 1.1679 on 4 hours chart, further rise towards 1.1800 level is still possible later today. Near term support is at 1.1720 and followed by 1.1679, a break below 1.1679 will signal the resumption of the down trend.

EURUSD

20070315_eurusd_1.gifEURUSD is in up trend, further rise towards 1.3259 is still possible later today. Near term support is at the up trend line from 1.3086 to 1.3176, key support is at 1.3176, only break below this level may delay the resumption of the up trend.

GBPUSD

20070315_gbpusd_1.gifGBPUSD is in correction to the up trend, the fall from 1.9433 finished at 1.9212 and further rise towards 1.9672 level can be expected, and a break above 1.9433 will confirm such case. Key support is at 1.9183, only break below this level will signal the resumption of the down trend.

USDJPY

20070315_usdjpy_1.gifUSDJPY is in correction to the up trend and is bottoming at 115.75 on 4 hours chart, key resistance is at 118.49, and a break above this level will confirm the cycle bottom. Key support is at 115.15, only break below this level may signal the resumption of the down trend.

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