# Short Term Analysis – February 1, 2007

EURUSD

EURUSD is testing the previous high resistance at 1.3042, break above this level may signal the resumption of the up trend, and more sharply rise towards 1.3364 (the day high of Dec 8, 2006) can be expected. Near term support is at the up trend line from 1.2876 to 1.2923.

USDCAD broke below 1.1780 support and reach 1.1747 so far, further fall towards 1.1729 level can be seen later today, if give way, further fall towards 1.1644 (the day low of Jan 16) can be seen in the next several days.

USDCHF

The trend line support is broken below, USDCHF topped at 1.2571 at 4 hours chart. Further fall towards 1.2374 previous low can be expected in the next several days. Key support of the medium up trend is at 1.2374, break below this level will confirm the medium term bearish movement.

GBPUSD

GBPUSD is bottoming at 1.9480 on 4 hours chart, key resistance is at 1.9695, a break above this level will confirm the cycle bottom, and rise towards 1.9800 level to reach the next cycle top can be seen. Near term support is at 1.9480, only break below this level will signal the resumption of the down trend.

AUDUSD

Resistance at 0.7748 is broken above, AUDUSD bottomed at 0.7695 on 4 hours chart, further rise towards 0.7800 level can be expected in the next several days. Near term support is at 0.7695, only break below this level will signal the resumption of the down trend.

USDJPY

USDJPY broke below this price channel support and fell towards 120.17, further fall below 120.17 can be seen in a couple of days. Near term resistance is at 122.17, only break above this level may signal the resumption of the up trend.