Short Term Analysis - April 30, 2007
GBPUSD
The fall from 2.0132 was limited by the up trend line from 1.9212 to 1.9590, GBPUSD rebounded from 1.9864. Further rise towards 2.0132 previous high is still possible in the next several days, and a break above the key resistance at 2.0061 will confirm such case. Key support is at 1.9864, only break below this level will delay the resumption of the up trend.
USDJPY
USDJPY is in up trend, further rise towards 121.00 to reach the next cycle top on 4 hours chart can be expected in the next several days. Key support is at 118.88, only break below this level will delay the resumption of the up trend.
USDCAD
USDCAD broke below 1.1133 previous low, further fall towards 1.1100 is still possible in the next several days. Key resistance is now at 1.1227, only break above this level will signal the reversal to the down trend.
AUDUSD
AUDUSD is in correction to the medium term up trend. Further fall towards 0.8150 will more likely be seen later today. Near term resistance is at 0.8358, and key resistance is at 0.8392, only break above the key resistance will signal the resumption of the up trend.
USDCHF
USDCHF is in consolidation to the down trend, further fall towards 1.1900 to reach the next cycle bottom on 4 hours chart can be expected after breaking below 1.1993 level. Key resistance is at 1.2126, only break above this level will signal the reversal to the down trend.
EURUSD
EURUSD broke above the long term resistance at 1.3668 (2004 high) and reached as high as 1.3681, further rise towards 1.3750 can be expected in a couple of days. Near term support is at 1.3584, only break below this level will delay the resumption of the up trend.
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