# Short Term Analysis – January 15, 2007

GBPUSD

GBPUSD rebounded from 1.9260 and reached 1.9606 high last week. Further rise towards 1.9750 previous high can be expected in a couple of days. Near term support is at 1.9420, only break below this level may signal the reversal to the up trend.

EURUSD

EURUSD is in down trend, further fall towards 1.2850 level is still possible later today. Near term resistance is at the down trend line and followed by 1.3014, only break above 1.3014 level may signal the reversal to the down trend.

AUDUSD

AUDUSD is in correction to the down trend, further rise to 0.7870 to reach the next cycle top on 4 hours chart is possible later today. Near term support is at 0.7759, only break below this level may signal the resumption of the down trend.