# Short Term Analysis – November 23, 2006

Key support at 1.1420 is broken below, USDCAD topped at 1.1492 on 4 hours chart, and the up trend from 1.1176 ended. Further fall towards 1.1350 level can be expected in a couple of days. Key resistance is at 1.1492, only break above this level may signal the resumption to the up trend.

USDJPY

The up trend line (from 116.57 to 117.12) support is broken below, USDJPY is now in down trend. Further fall towards 116.00 level to meet the next cycle bottom can be expected after a slightly pullback towards 117.00 level.

AUDUSD

AUDUSD is now in up trend, and further rise above 0.7766 previous high is possible later today. Near term support is at the up trend line (from 0.7642 to 0.7681, now at 0.7707), only break below the trend line support may signal the reversal to the up trend.

GBPUSD

GBPUSD is in up trend and further rise towards 1.9200 is still possible after a slightly pullback to 1.9100 level. Near term support is at the up trend line, and as long as the trend line support holds, up trend will continue.

USDCHF

USDCHF is in down trend, and further fall towards 1.2225 is still possible after a slightly pullback towards 1.2300 level. Near term resistance is at the down trend line (from 1.2536 to 1.2450, now at 1.2380), only break above the trend line resistance may delay the resumption of the down trend.

EURUSD

EURUSD is in up trend and further rise above 1.2978 (the day high of June 5) to meet the next cycle top on 4 hours chart is still possible in a couple of days. Near term support is at 1.2900 level, only fall below this level may delay the resumption of the up trend.