TECHNICAL ANALYSIS 5/11/2012

eurusd Pivot: 1.286 Our preference: Short positions below 1.286 with targets @ 1.28 & 1.275 in extension. Alternative scenario: Above 1.286 look for further upside with 1.289 & 1.2925 as targets. Comment: a break below 1.28 would trigger a drop towards 1.275. Key levels 1.2925 1.289 1.286 1.*** last 1.28 1.275 1.27

gbpusd Pivot: 1.605 Our preference: Short positions below 1.605 with targets @ 1.6 & 1.5975 in extension. Alternative scenario: Above 1.605 look for further upside with 1.608 & 1.612 as targets. Comment: a break below 1.6 would trigger a drop towards 1.5975. Key levels 1.612 1.608 1.605 1.6025 last 1.6 1.5975 1.5955

usdjpy Pivot: 80.35 Our preference: Long positions above 80.35 with targets @ 80.65 & 80.8 in extension. Alternative scenario: Below 80.35 look for further downside with 80.1 & 79.85 as targets. Comment: technically, the RSI is above its neutrality area at 50. Key levels 81.05 80.8 80.65 80.5 last 80.35 80.1 79.85

eurjpy Pivot: 103.6 Our preference: Short positions below 103.6 with targets @ 103 & 102.75 in extension. Alternative scenario: Above 103.6 look for further upside with 104 & 104.2 as targets. Comment: as long as the resistance at 103.6 is not surpassed, the risk of the break below 103 remains high. Key levels 104.2 104 103.6 103.169 last 103 102.75 102.5

gold Pivot: 1692.00 Our preference: SHORT positions below 1692 with 1668 & 1660 as next targets. Alternative scenario: The upside penetration of 1692 will call for 1698 & 1705. Comment: as long as 1692 is resistance, expect a return to 1668. Trend: ST Consolidation; MT Ltd upside Key levels Comment 1705** Intraday resistance 1698** Intraday resistance 1692** Intraday pivot point 1679.09 Last 1668** Intraday support 1660*** Intraday support 1645** Intraday support

nzdusd Pivot: 0.823 Our preference: Long positions above 0.823 with targets @ 0.83 & 0.832 in extension. Alternative scenario: Below 0.823 look for further downside with 0.8195 & 0.8175 as targets. Comment: a support base at 0.823 has formed and has allowed for a temporary stabilisation. Key levels 0.8335 0.832 0.83 0.8256 last 0.823 0.8195 0.8175

audusd Pivot: 1.038 Our preference: Short positions below 1.038 with targets @ 1.032 & 1.03 in extension. Alternative scenario: Above 1.038 look for further upside with 1.0415 & 1.043 as targets. Comment: intraday technical indicators are mixed and call for caution. Key levels 1.043 1.0415 1.038 1.0358 last 1.032 1.03 1.027