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Short Term Analysis – March 26, 2007

EURUSD
20070326_eurusd_1.gifKey support at 1.3271 is broken below, EURUSD topped at 1.3410 on 4 hours chart. Further fall towards 1.3200 can be expected in the next several days. We have to change our view on medium term analysis. EURUSD topped at 1.3271 on daily chart. Fall towards 1.2000 level can be expected in the next several weeks.

USDJPY
20070326_usdjpy_1.gifNo changed in our view, USDJPY bottomed at 115.75 on 4 hours chart. Further rise above 118.49 previous high to reach the next cycle top on 4 hours chart can be expected later today. Near term support is at 117.16, only break below this level may signal the resumption of the down trend.

USDCHF
20070326_usdchf_1.gifUSDCHF is in correction to the down trend. The rise from 1.2029 extended to as high as 1.2216 so far, 2 points higher than 1.2214 previous high resistance. The next cycle top is nearing, key support is at 1.2075, a break below this level will signal the resumption of the down trend.

USDCAD
20070326_usdcad_1.gifResistance at 1.1631 is broken above, USDCAD bottomed at 1.1528 on 4 hours chart. Sideways consolidation can be expected in the next several days. Near term support is at 1.1528, a break below this level will signal the resumption of the down trend.

AUDUSD
20070326_audusd_1.gifAUDUSD is in correction to he up trend, further fall towards 0.8000 level is still possible later today. Near term resistance is at 0.8091, a break above this level will signal the resumption of the up trend.

GBPUSD
20070326_gbpusd_1.gifGBPUSD is topping at 1.9726 on 4 hours chart, key support is at 1.9554, a break below this level will confirm the cycle top. Near term resistance is at 1.9726, only break above this level may signal the resumption of the up trend.

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