TECHNICAL ANALYSIS 12/11/20122

EURUSD Pivot: 1.2745 Our preference: Short positions below 1.2745 with targets @ 1.269 & 1.267 in extension. Alternative scenario: Above 1.2745 look for further upside with 1.2775 & 1.281 as targets. Comment: as long as 1.2745 is resistance, look for choppy price action with a bearish bias. Key levels 1.281 1.2775 1.2745 1.2727 last 1.269 1.267 1.2635 _________

GBPUSD Pivot: 1.5925 Our preference: Short positions below 1.5925 with targets @ 1.5875 & 1.585 in extension. Alternative scenario: Above 1.5925 look for further upside with 1.5965 & 1.6015 as targets. Comment: as long as 1.5925 is resistance, look for choppy price action with a bearish bias. Key levels 1.6015 1.5965 1.5925 1.5905 last 1.5875 1.585 1.5815

USDJPY Pivot: 79.6 Our preference: Short positions below 79.6 with targets @ 79 & 78.85 in extension. Alternative scenario: Above 79.6 look for further upside with 79.8 & 80.1 as targets. Comment: the RSI lacks upward momentum. Key levels 80.1 79.8 79.6 79.46 last 79 78.85 78.7 _______

EURJPY Pivot: 101.35 Our preference: Short positions below 101.35 with targets @ 100.4 & 100.1 in extension. Alternative scenario: Above 101.35 look for further upside with 101.75 & 102.2 as targets. Comment: the pair is rebounding but stands below its resistance. Key levels 102.2 101.75 101.35 101.13 last 100.4 100.1 99.7

GOLD Pivot: 1726.00 Our preference: LONG positions above 1726 with 1742 & 1752 in sight. Alternative scenario: The downside penetration of 1726 will call for a slide towards 1720 & 1711. Comment: the RSI has just landed on its neutrality area at 50% and is turning up. Trend: ST Bullish; MT Ltd upside Key levels Comment 1760** Intraday resistance 1752** Intraday resistance 1742*** Intraday resistance 1733.31 Last 1726** Intraday pivot point 1720** Intraday support 1711** Intraday support

NZDUSD Pivot: 0.819 Our preference: Short positions below 0.819 with targets @ 0.81 & 0.807 in extension. Alternative scenario: Above 0.819 look for further upside with 0.8225 & 0.825 as targets. Comment: the upward potential is likely to be limited by the resistance at 0.819. Key levels 0.825 0.8225 0.819 0.8161 last 0.81 0.807 0.803

AUDUSD Pivot: 1.0385 Our preference: Long positions above 1.0385 with targets @ 1.0445 & 1.0475 in extension. Alternative scenario: Below 1.0385 look for further downside with 1.0355 & 1.0325 as targets. Comment: the RSI is bullish and calls for further advance. Key levels 1.0495 1.0475 1.0445 1.0419 last 1.0385 1.0355 1.0325