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Short Term Analysis – April 18, 2007

20070418_eurusd_1.gifEURUSD
No changed in our view, EURUSD is in up trend supported by the rising price channel. Further rise towards 1.3668 (2004 high) is still possible in the next several days. Near term support is at the price channel and followed by 1.3525. Key support is at 1.3485, only break below 1.3485 level will signal the reversal to the up trend.

20070418_audusd_1.gifAUDUSD
No changed in our view, AUDUSD is in up trend supported by the up trend line from 0.7680 to 0.8063, and reached as high as 0.8385. Further rally towards 0.8500 is still possible in the next several days. Near term support is at 0.8305, only break below this level will delay the resumption of the up trend.

20070418_gbpusd_1.gifGBPUSD
GBPUSD’s up trend extended to as high as 2.0084 so far. More sharply rise towards 2.0200 is still possible after a slightly correction. Near term support is at the up trend line from 1.9590 to 1.9781, and as long as the trend line support holds, up trend will continue.

20070418_usdcad_1.gifUSDCAD
USDCAD is testing the previous low support at 1.1285 (Nov 28, 2006), consolidation can be expected before breaking below this level, and the price will find resistance below 1.1400. If the previous low support gives way, the target will be 1.1200.

20070418_usdchf_1.gifUSDCHF
USDCHF broke below 1.2066 previous low, further fall towards 1.2029 (the day low of Mar 16) is still possible later today. Near term resistance is at the down trend line from 1.2245 to 1.2188 and followed by 1.2150.

20070418_usdjpy_1.gifUSDJPY
USDJPY is in up trend, the fall from 119.86 is treated as in correction to the up trend. Further rise towards 121.00 is still possible after this correction. Key support is now at 118.21, only break below this level will signal the reversal to the up trend.

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