# Short Term Analysis – September 4, 2007

USDCAD topped at 1.0676 on 4 hours chart. Further fall below 1.0469 previous low to reach the next cycle bottom is expected. Key support is at 1.0339, and this support will more likely be held. Near term resistance is at 1.0676, a break above this level will signal the resumption of the up trend.

EURUSD
EURUSD topped at 1.3719 on 4 hours chart. Further fall below 1.3562 is expected to follow later today, and the target would be 1.3480 level. Near term resistance is at 1.3719, only break above this level will signal the resumption of the up trend.

USDJPY
USDJPY traded in a narrow range between 115.48 and 116.09, break above this range and rise towards 118.00 can be seen later today. Near term support is at 115.00, and as long as this support holds, up trend will continue.

GBPUSD
GBPUSD is topping at 2.0232 on 4 hours chart. Pullback towards 1.9959 previous low is expected to follow later today. Near term resistance is at 2.0232, if gives way, rise towards 2.0300 can be seen.

USDCHF
USDCHF is in up trend, further rise towards 1.2214 previous high is still possible later today. Key support is at 1.2050, and key support is at 1.1959, only break below this level will signal the resumption of the down trend.

AUDUSD
AUDUSD is forming a sideways consolidation in a range between 0.8050 and 0.8334. Rise above 0.8334 will more likely be seen later today. Near term support is at 0.8050, only break below this level will indicate lengthier correction to the up trend.