# Short Term Analysis – October 9, 2006

USDCAD is in correction to the up trend and will form a sideways consolidation in a range between 1.1199 and 1.1304 in the next several days. Up trend will resume after breaking above the near term resistance at 1.1304 level.

EURUSD

EURUSD broke below the key support at 1.2668 and fell below 1.2630 previous low support last week. The pair is in down trend, and further fall to 1.2550 level can be expected in the next couple of days. Key resistance is now at 1.2714, only break above this level may signal the reversal to the down trend.

GBPUSD

GBPUSD is in down trend, further fall below 1.8631 is possible later today. Key resistance is now at 1.8878, only break above this level may signal the reversal to the down trend.

USDCHF

USDCHF broke above 1.2621 previous high resistance last week, and further rise to 1.2700 level can be seen in the next couple of days. Near term support is the up trend line, and as long as the trend line support holds, up trend will continue.

USDJPY

Key resistance at 118.28 is broken above, and USDJPY is in up trend. Further rise towards 120.00 level can be expected in the next several days. Key support is now at 117.45, as long as the key support holds, up trend will continue.

AUDUSD

AUDUSD is in down trend, further fall below 0.7400 level can be seen later today. Key resistance is now at 0.7483, and only break above this level may delay the resumption of the down trend.