Short Term Analysis – October 12, 2007

20071012_usdchf_1.gifUSDCHF
USDCHF topped at 1.1891 on 4 hours chart. Further fall towards 1.1622 previous low can be seen in the next several days. Near term resistance is at 1.1891, only rise above this level will signal the resumption of the up trend.

20071012_audusd_1.gifAUDUSD
AUDUSD broke above 0.9032 previous high and reached as high as 0.9059, further rise towards 0.9200 is expected. Near term support is at the up trend line from 0.8794 to 0.8939, and followed by 0.8910, only break below 0.8910 will signal consolidation to the up trend.

20071012_gbpusd_1.gifGBPUSD
GBPUSD topped at 2.0474 on 4 hours chart, further fall below 2.0255 to reach the next cycle bottom can be seen later today. Key resistance is at 2.0492, a break above this level will signal the resumption of the up trend.

20071012_eurusd_1.gifEURUSD
EURUSD is in correction to the up trend, further pullback below 1.4014 to reach the next cycle bottom on 4 hours chart is still possible in the next several days. Key resistance is at 1.4281, only break above this level will signal the resumption of the up trend.

20071012_usdcad_1.gifUSDCAD
USDCAD broke below 0.9787 previous low and down trend resumed. Further fall towards 0.9600 is still possible in the next several days. Near term resistance is at 0.9894, only rise above this level will signal consolidation to the up down trend.

20071012_usdjpy_1.gifUSDJPY
USDJPY is in consolidation to the up trend, further fall towards the up trend line to reach the next cycle bottom is still possible later today. Near term resistance is at 117.77, a break above this level will signal the resumption of the up trend.

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