Short Term Analysis – November 14, 2006

AUDUSD

20061114_audusd_1.gifSupport at 0.7644 is broken below, AUDUSD is now in down trend, and further fall to test 0.7558 previous low support is possible in the next several days. Near term resistance is at the down trend line, and the key resistance is now at 0.7697, only break above this level may signal the reversal to the down trend.

USDJPY

20061114_usdjpy_1.gifUSDJPY is forming a sideways consolidation in a range between 116.57 and 118.58, and further fall below 117.12 to reach the next cycle bottom on 4 hours chart is still possible in the next several days. Key resistance is at 118.58, if this resistance gives way, rise towards 119.00 level can be expected.

GBPUSD

20061114_gbpusd_1.gifGBPUSD is in correction to the up trend and further rise above 1.9177 to reach the next cycle top on 4 hours chart is still possible after this correction. Key support is at 1.8973, a break below this level may pull price back towards 1.8900 level.

USDCAD

20061114_usdcad_1.gifUSDCAD is now in up trend and further rise above 1.1413 previous high resistance to reach the next cycle top on 4 hours chart can be seen in the next several days. Key support is at 1.1264, only break below this level can signal the reversal to the up trend.

EURUSD

20061114_eurusd_1.gifEURUSD is in correction to the up trend and further rise above 1.2899 to reach the next cycle top on 4 hours chart is still possible after this correction. Key support is at 1.2745, only break below this level may signal the reversal to the up trend.

USDCHF

20061114_usdchf_1.gifUSDCHF is in correction to the down trend and further fall below 1.2344 to reach its next cycle bottom on 4 hours chart is still possible after this correction. Key resistance is at 1.2523, on break above this level may signal the reversal to the down trend.