# Short Term Analysis – January 03, 2007

USDCHF

Key support at 1.2115 is broken below, USDCHF topped at 1.2267 on 4 hours chart and daily chart. Further decline towards 1.2000 area can be expected in a couple of days. Key resistance is at 1.2267, only break above this level may signal the resumption of the up trend.

EURUSD

EURUSD broke above the triangle pattern and reached 1.3296 high. Up trend resumed as the key resistance at 1.3199 is broken above, and further rally to test 1.3364 previous high resistance is possible in a couple of days.

USDCAD is in up trend and further rally towards 1.1700 level is still possible in a couple of days. Near term support is at the up trend line from 1.1429 to 1.1578, now at 1.1615 level, key support is at 1.1576, only break below this level may signal the reversal to the up trend.

AUDUSD

AUDUSD broke above 0.7929 previous high resistance and reach 0.7975 high. The pair is in up trend and further rise towards 0.8000 can be expected in a couple of days. Key support is now at 0.7850, only break below this level may signal the reversal to the up trend.

GBPUSD

Key resistance at 1.9675 is broken above, GBPUSD is now in up trend and previous high resistance at 1.9747 will be broken immediately. The pair will break above 1.9846 previous high resistance in a couple of days.

USDJPY

USDJPY may be topping at 119.21 on 4 hours chart, key support is at 118.26, a break below this level may confirm the cycle top. Near term resistance is at 119.21, only break above this level may signal the resumption of the up trend.