# Short Term Analysis – November 9, 2006

USDCAD is in correction to the up trend, and further fall below 1.1254 to reach the next cycle bottom can be seen in the next several days. Near term support is at 1.1254 and follow by the up trend line, drawing from 1.1085 (the day low of September 28) and 1.1176 (the day low of October 30).

EURUSD

EURUSD pulled back from 1.2818 to 1.2745 and further fall towards the previous low support at 1.2677 can be expected later today. Near term resistance is at 1.2818, a break above this level may signal the resumption of the up trend.

USDCHF

USDCHF is forming a sideways consolidation in a range between 1.2405 and 1.2578, and further rise higher to test the previous high resistance at 1.2578 can be expected later today. Near term support is at 1.2437, a break below this level may signal the resumption of the down trend.

AUDUSD

AUDUSD pulled back from 0.7759, and further fall towards 0.7650 can be expected later today. Near term resistance is at 0.7766, only break above this level may signal the resumption of the up trend.

GBPUSD

GBPUSD is in correction to the up trend, and further fall lower to test the support of the up trend line, drawing from 1.8523 (the day low of October 16) and 1.8672 (the day low of October 24), is still possible later today. Key resistance is at 1.9135, a break above this level may signal the resumption of the up trend.

USDJPY

USDJPY is forming a sideways consolidation in a range between 116.57 and 118.44, and further rise towards the previous high resistance at 118.44 can be expected later today. Near term support is at 117.24 and follow by 116.57, a break below 116.57 level may signal the resumption of the down trend.