TECHNICAL ANALYSIS 07/12/2012

eurusd Pivot: 1.3010. Our preference: SHORT positions @ 1.3 with targets @ 1.2945 & 1.291. Alternative scenario: The upside penetration of 1.301 will call for a rebound towards 1.304 & 1.3055. Comment: the RSI is capped by a bearish trend line. Trend: ST Ltd Downside; MT Range Key levels Comment 1.3055** Fib retracement (61.8%) 1.304** Fib retracement (50%) 1.301*** Intraday pivot point 1.2961 Last 1.2945** Intraday support 1.291** Intraday support 1.288** Intraday support

gbpusd Pivot: 1.6080. Our preference: SHORT positions @ 1.607 with 1.6 & 1.5985 as next targets. Alternative scenario: The upside penetration of 1.608 will call for a rebound towards 1.6115 & 1.613. Comment: the break below the support at 1.608 triggered a downward acceleration to 1.5985. Trend: ST Ltd Downside; MT Range Key levels Comment 1.613* Intraday resistance 1.6115* Intraday resistance 1.608*** Intraday pivot point 1.6053 Last 1.6* Intraday support 1.5985* Intraday support 1.596* Intraday support

usdjpy Pivot: 82.30. Our preference: LONG positions @ 82.4 with targets @ 82.6 & 82.75. Alternative scenario: The downside breakout of 82.3 will open the way to 82.15 & 82. Comment: the RSI is bullish and calls for further upside. Trend: ST Consolidation; MT Bullish Key levels Comment 82.85** Intraday resistance 82.75* Intraday resistance 82.6** Intraday resistance 82.42 Last 82.3*** Intraday pivot point 82.15** Intraday support 82** Intraday support

eurjpy Pivot: 107.45 Our preference: Short positions below 107.45 with targets @ 106.4 & 105.95 in extension. Alternative scenario: Above 107.45 look for further upside with 107.95 & 108.3 as targets. Comment: as long as 107.45 is resistance, look for choppy price action with a bearish bias. Key levels 108.3 107.95 107.45 106.76 last 106.4 105.95 105.25

gold Pivot: 1708.00 Our preference: SHORT positions below 1708 with targets @ 1684 & 1672. Alternative scenario: The upside breakout of 1708 will open the way to 1722 & 1731. Comment: as long as 1708 is resistance, look for choppy price action with a bearish bias. Trend: ST Bullish; MT Bullish Key levels Comment 1731** Intraday resistance 1722** Intraday resistance 1708*** Intraday pivot point 1701.6 Last 1684** Intraday support 1672** Previous low 1654* Fib projection

nzdusd Pivot: 0.8305 Our preference: Long positions above 0.8305 with targets @ 0.835 & 0.838 in extension. Alternative scenario: Below 0.8305 look for further downside with 0.8265 & 0.823 as targets. Comment: a support base at 0.8305 has formed and has allowed for a temporary stabilisation. Key levels 0.84 0.838 0.835 0.8318 last 0.8305 0.8265 0.823

audusd Pivot: 1.052 Our preference: Short positions below 1.052 with targets @ 1.0435 & 1.041 in extension. Alternative scenario: Above 1.052 look for further upside with 1.0545 & 1.057 as targets. Comment: as long as 1.052 is resistance, likely decline to 1.0435. Key levels 1.057 1.0545 1.052 1.04765 last 1.0435 1.041 1.039