# Short Term Analysis – October 20, 2006

AUDUSD

AUDUSD is in up trend, more sharply rise towards 0.7650 can be expected in the next several days. Near term support is at the up trend line, as long as the trend line support holds, up trend will continue. Key support is now at 0.7521, only break below this level may signal the reversal to the up trend.

USDJPY

USDJPY is in down trend, further fall towards 117.38 to reach the next cycle bottom is still possible later today. Near term resistance is at the down trend line, as long as the trend line resistance holds, down trend will continue.

USDCHF

USDCHF is in down trend, further fall towards 1.2500 level is possible later today. Key resistance is now at 1.2739, only break above this level may signal the reversal to the down trend.

GBPUSD

GBPUSD is in up trend, more sharply rise towards 1.8900 level is still possible in the next several days. Near term support is at the up trend line, and as long as the trend line support holds, up trend will continue.

EURUSD

EURUSD is in up trend, more sharply rise towards 1.2750 level is still possible in next several days. Key support is at 1.2502, only break below this level may signal the reversal to the up trend.