# Short Term Analysis – December 21, 2006

USDCAD

USDCAD topped at 1.1587 on 4 hours chart, and further fall towards 1.1400 level can be expected in a couple of days. Key resistance is at 1.1587, only break above this level may signal the resumption of the up trend.

USDJPY

USDJPY is testing the previous high resistance at 118.58, if gives way, further rise towards 119.00 is possible. Key support is at 117.43, a break below this level may signal the reversal of the up trend.

GBPUSD

GBPUSD is forming a sideways consolidation in a range between 1.9433 and 1.9846. Further rise towards 1.9846 can be expected in a couple of days. Near term support is now at 1.9433, only break below this level may signal the resumption of the down trend.

USDCHF

Key support at 1.2115 is broken below, USDCHF has topped at 1.2268 on 4 hours chart, and further fall towards 1.1983 is possible in a couple of days. Key resistance is at 1.2268, only break above this level may signal the resumption of the up trend.

AUDUSD

AUDUSD bottomed at 0.7779 on 4 hours chart and further rise towards 0.7892 previous high is still possible later today. Key support is at 0.7779, only break below this level may signal the resumption of the down trend.

EURUSD

EURUSD is forming a sideways consolidation in a range between 1.3051 and 1.3364. Further rise towards 1.3364 can be expected in a couple of days. Near term support is now at 1.3051, only break below this level may signal the resumption of the down trend.