TECHNICAL ANALYSIS 27/9/2012

GBP/USD Pivot: 1.621 Our preference: Short positions below 1.621 with targets @ 1.613 & 1.61 in extension. Alternative scenario: Above 1.621 look for further upside with 1.6235 & 1.626 as targets. Comment: as long as 1.621 is resistance, likely decline to 1.613. Key levels 1.626 1.6235 1.621 1.6186 last 1.613 1.61 1.6075

EUR/USD Pivot: 1.2915 Our preference: Short positions below 1.2915 with targets @ 1.283 & 1.2805 in extension. Alternative scenario: Above 1.2915 look for further upside with 1.295 & 1.297 as targets. Comment: the pair remains within a bearish channel and stands below its new resistance. Key levels 1.297 1.295 1.2915 1.28795 last 1.283 1.2805 1.277

EUR/JPY Pivot: 100.5 Our preference: Short positions below 100.5 with targets @ 99.65 & 99.05 in extension. Alternative scenario: Above 100.5 look for further upside with 101 & 101.7 as targets. Comment: as long as 100.5 is resistance, likely decline to 99.65. Key levels 101.7 101 100.5 100.024 last 99.65 99.05 98.85

USD/JPY Pivot: 77.95 Our preference: Short positions below 77.95 with targets @ 77.5 & 77.35 in extension. Alternative scenario: Above 77.95 look for further upside with 78.15 & 78.35 as targets. Comment: the RSI is badly directed. Key levels 78.35 78.15 77.95 77.65 last 77.5 77.35 77.1

GOLD Pivot: 1744.00 Our Preference: LONG positions above 1744 with 1765 & 1774 in sight. Alternative scenario: The downside penetration of 1744 will call for 1736 & 1725. Comment: the RSI is well directed. Trend: ST Ltd upside; MT Bullish Key levels Comment 1787** Intraday resistance 1774** Intraday resistance 1765** Intraday resistance 1755.6 Last 1744** Intraday pivot point 1736** Horizontal support 1725** Horizontal support

AUD/USD Our preference: Short positions below 1.041 with targets @ 1.033 & 1.03 in extension. Alternative scenario: Above 1.041 look for further upside with 1.0445 & 1.047 as targets. Comment: as long as 1.041 is resistance, likely decline to 1.033. Key levels 1.047 1.0445 1.041 1.03738 last 1.033 1.03 1.027

NZD/USD Pivot: 0.82 Our preference: Long positions above 0.82 with targets @ 0.828 & 0.8315 in extension. Alternative scenario: Below 0.82 look for further downside with 0.8175 & 0.8155 as targets. Comment: the RSI is bullish and calls for further upside. Key levels 0.834 0.8315 0.828 0.82524 last 0.82 0.8175 0.8155