# Short Term Analysis – November 15, 2007

EURUSD
Being support by the price channel, EURUSD rebounded from 1.4519. Sideways consolidation will more likely be seen, and pullback below 1.4519 is still possible before breaking of 1.4751 level. Key resistance is at 1.4751, a break above this level will signal the resumption of the up trend.

USDJPY
USDJPY is in down trend. The rise from 109.12 is treated as consolidation to the down trend. Further fall towards 108.00 is still possible after consolidation. Near term resistance is at 112.85 level, and as long as this resistance holds, down trend will continue.

GBPUSD
GBPUSD is in down trend, the fall from 2.1161 extended to as low as 2.0504, further fall towards 2.0300 is still possible in a couple of days. Near term resistance is at 2.0843, and as long as this resistance holds, down trend will continue.

AUDUSD
AUDUSD rebounded from 0.8752, and further rise towards 0.9250 area to reach the next short term cycle top is still possible in the next several days. Near term support is at 0.8752, if gives way, the pair will find support at 0.8535 area.

USDCHF
USDCHF is in consolidation to the down trend. Further rebounded towards 1.1300 area to reach the next short term cycle top is still possible later today. Near term support is at 1.1176, a break below this level will signal the resumption of the down trend.

USDCAD
USDCAD is in correction to the down trend. Near term resistance is at 0.9723 level, and pullback from this area will more likely be seen later today. Near term support is at 0.9511, if gives way, pullback towards 0.9056 previous low can be seen.

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