# Short Term Analysis – March 5, 2007

USDCAD is in correction to the down trend, further rise towards 1.1800 is still possible in the next several days. Near term support is at the up trend line, now at 1.1729. Key support is at 1.1670, a break below this level may signal the resumption of the down rend.

EURUSD

EURUSD is in correction to the up trend, further fall to test the previous low support at 1.3079 can be expected in the next several days. Near term resistance is at 1.3258, a break above this level may signal the resumption of the up trend.

USDJPY

USDJPY is in down trend, further fall towards 115.50 level is still possible in the next several days. Key resistance is at 117.85, only break above this level may delay the resumption of the down trend.

GBPUSD

GBPUSD is testing the support at 1.9260 (the day low of Jan 8), a break below this level will confirm the medium term bearish movement, and further fall towards 1.9150 can be seen in the next several days.

AUDUSD

AUDUSD dropped below the price channel support, more sharply fall towards 0.7695 (the day low of Jan 31) is still possible in the next several days. Near term resistance is at the down trend line, now at 0.7833.

USDCHF

USDCHF dropped below 1.2142 previous low, more sharply fall below 1.2100 level can still be expected later today. Key resistance is at 1.2260, only break above this level will signal the reversal to the down trend.