Short Term Analysis – June 12, 2007

20070612_gbpusd_1.gifGBPUSD
GBPUSD is in down trend, the rise from 1.9622 is treated as consolidation to the down trend. More sharply fall towards 1.9500 can still be expected in a couple of days. Near term resistance is at 1.9755, only break above this level will delay the resumption of the down trend.

20070612_usdcad_1.gifUSDCAD
USDCAD is topping at 1.0712 on 4 hours chart, key support is now at 1.0560, a break below this level will confirm the cycle top and fall towards 1.0400 can be seen. Near term resistance is at 1.0712, only break above this level will delay the resumption of the down trend.

20070612_usdjpy_1.gifUSDJPY
No changed in our view, USDJPY formed a sideways consolidation in a range between 120.76 and 122.13 for 3 weeks, and lengthier consolidation will more likely be seen in the next several days. Only break above 122.43 key resistance will signal the resumption of the up trend.

20070612_usdchf_1.gifUSDCHF
USDCHF is in up trend. More sharply rise towards 1.2450 can still be expected in a couple of days. Near term support is now at 1.2300, only break below this level will delay the resumption of the up trend.

20070612_eurusd_1.gifEURUSD
EURUSD is in down trend, the rise from 1.3320 is treated as consolidation to the down trend. More sharply fall towards 1.3200 can still be expected in a couple of days. Near term resistance is at 1.3400, only break above this level will delay the resumption of the down trend.

20070612_audusd_1.gifAUDUSD
No changed in our view, AUDUSD is in consolidation to the up trend, further fall towards 0.8320 to reach the next cycle bottom on 4 hours chart is still possible in a couple of days. Key resistance is at 0.8476, a break above this level will signal the resumption of the up trend.

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