# Short Term Analysis – August 1, 2006

USDCHF?

USDCHF is in down trend. Further fall below 1.2182 (the day low of July 7) is possible in next several days. Key resistance is at 1.2422, as long as this key resistance holds, down trend will continue.

USDJPY?

USDJPY is in down trend, further fall below 113.39 (the day low of July 10) is possible in next several days. Key resistance is at 116.02, as long as this resistance holds, down trend will continue.

EURUSD?

EURUSD is in up trend, further rise towards 1.2861 previous high is possible in the next couple of days. Key support is at 1.2659, only break below this level may signal a reversal of the up trend.

GBPUSD?

Resistance at 1.8675 is broken above, up trend of GBPUSD resumes. Further rise towards 1.8877 (the day high of June 5) is possible in next several days. Key support is at 1.8544, only break below this level may signal a reversal of the up trend.