# Short Term Analysis – October 10, 2006

AUDUSD

AUDUSD is in down trend, further fall below 0.7400 level can be expected in the next couple of days. Near term resistance is the top of the price channel, now at 0.7470, and as long as this resistance holds, down trend will continue.

USDCAD is forming a sideways consolidation in a range between 1.1199 and 1.1304, slightly break below 1.1199 to reach the next cycle bottom is possible later today. Key resistance is at 1.1304, a break above may signal the resumption of the up trend.

GBPUSD

GBPUSD is in down trend, further fall below 1.8602 previous low support is possible in the next couple of days. Key resistance is now at 1.8878, only break above this level may signal the reversal to the down trend.

EURUSD

EURUSD traded in a narrow range yesterday, down trend will continue later today, and fall to 1.2550 level can be expected. Key resistance is at 1.2714, only break above this level may signal the reversal to the down trend.

USDCHF

USDCHF traded in a narrow range yesterday, up trend will continue later today, and further rise towards 1.2700 level can be expected. Near term support is the up trend line, now at 1.2513, and as long as the trend line support holds, up trend will continue.

USDJPY

USDJPY is in up trend, further rise towards 120.00 level can be expected in the next several days. Near term support is the up trend line, now at 117.85, as long as the trend line support holds, up trend will continue.