# Short Term Analysis – February 12, 2007

Support at 1.1805 is broken below, USDCAD topped at 1.1874 on 4 hours chart. Further fall towards 1.1650 to reach the next cycle bottom on 4 hours chart can be expected in the next several days. Key resistance is now at 1.1874, only break above this level may signal the resumption of the up trend.

USDJPY

USDJPY is testing the previous high resistance at 122.17, slightly break above this level to reach the next cycle top on 4 hours chart is still possible later today. Near term support is at the up trend line, now at 121.37, and key support is at 120.97, a break below this level will confirm the cycle top.

USDCHF

USDCHF broke above the resistance at 1.2517, further rise towards 1.2571 previous high is still possible later today. Near term support is at 1.2440, and key support is at 1.2378, a break below the key support will signal the resumption of the up trend.

AUDUSD

The key support at 0.7764 is broken below, AUDUSD topped at 0.7820 on 4 hours chart. Further fall towards 0.7695 previous low to reach the next cycle bottom can be expected in the next several days. Near term resistance is at 0.7775, only break above this level may delay the resumption of the down trend.

GBPUSD

Support at 1.9535 is broken below, down trend of GBPUSD resumed. Further fall towards 1.9350 is possible later today. Near term resistance is at 1.9600, only break above this level may delay the resumption of the down trend.

EURUSD

EURUSD fell below the up trend line from 1.2911 to 1.2973, further decline towards 1.2911 previous low to reach the next cycle bottom on 4 hours chart can be expected later today. Near term resistance is at 1.3042, key resistance is at 1.3062, a break above the key resistance will signal the resumption of the up trend.