# Short Term Analysis – January 09, 2007

AUDUSD

The down trend line resistance is broken above, AUDUSD is bottoming at 0.7780 on 4 hours chart. The pair is now in correction of the down trend, and further fall towards 0.7600 can be expected after a slightly correction. Near term resistance is at 0.7850, key resistance is at 0.7977, only break above the key resistance may signal the resumption of the up trend.

USDJPY

USDJPY is in down trend, further fall below 117.97 is possible in a couple of days. Near term resistance is at 119.25, key resistance is at 119.67, only break above the key resistance may signal the resumption of the up trend.

USDCAD is topping at 1.1786 on 4 hours chart, further fall below 1.1718 key support to reach the next cycle bottom is possible later today. Key resistance is at 1.1786, only break above this level may signal the resumption of the up trend.

GBPUSD

The down trend line resistance is broken above, GBPUSD is bottoming at 1.9260 on 4 hours chart, key resistance is at 1.9432, a break above this level may confirm the cycle bottom. Near term support is at 1.9260, only break below this level may signal the resumption of the down trend.

USDCHF

The up trend line support is broken below, USDCHF is topping at 1.2412 on 4 hours chart. Key support is at 1.2271, a break below this level may confirm the cycle top. Near term resistance is at 1.2412, only break above this level may signal the resumption of the up trend.

EURUSD

The down trend line resistance is broken above, EURUSD is bottoming at 1.2971 on 4 hours chart, key resistance is at 1.3104, a break above this level may confirm the cycle bottom. Near term support is at 1.2971, only break below this level may signal the resumption of the down trend.