TECHNICAL ANALYSIS 26/12/2012

eurusd Pivot: 1.323 Our preference: Short positions below 1.323 with targets @ 1.314 & 1.31 in extension. Alternative scenario: Above 1.323 look for further upside with 1.327 & 1.33 as targets. Comment: as long as 1.323 is resistance, likely decline to 1.314. Key levels 1.33 1.327 1.323 1.3182 last 1.314 1.31 1.3065

gbpusd Pivot: 1.617 Our preference: Short positions below 1.617 with targets @ 1.608 & 1.604 in extension. Alternative scenario: Above 1.617 look for further upside with 1.621 & 1.624 as targets. Comment: as long as 1.617 is resistance, look for choppy price action with a bearish bias. Key levels 1.624 1.621 1.617 1.6124 last 1.608 1.604 1.6

usdjpy Pivot: 84.85 Our preference: Long positions above 84.85 with targets @ 85.35 & 85.7 in extension. Alternative scenario: Below 84.85 look for further downside with 84.65 & 84.4 as targets. Comment: the next resistances are at 85.35 and then at 85.7. Key levels 86 85.7 85.35 85.244 last 84.85 84.65 84.4

eurjpy Pivot: 111.9 Our preference: Long positions above 111.9 with targets @ 112.45 & 112.75 in extension. Alternative scenario: Below 111.9 look for further downside with 111.6 & 111.25 as targets. Comment: the next resistances are at 112.45 and then at 112.75. Key levels 112.95 112.75 112.45 112.392 last 111.9 111.6 111.25

gold Pivot: 1652.00 Our preference: LONG positions above 1652 with targets @ 1669 & 1679. Alternative scenario: The downside penetration of 1652 will call for a slide towards 1645 & 1635. Comment: intraday technical indicators are mixed and call for caution. Trend: ST Ltd downside; MT Range Key levels Comment 1690** Fib retracement (61.8%) 1679** Fib retracement (50%) 1669* Fib retracement (38.2%) 1654.71 Last 1652*** Intraday pivot point 1645* Intraday support 1635** Intraday support

nzdusd Pivot: 0.824 Our preference: Short positions below 0.824 with targets @ 0.8195 & 0.817 in extension. Alternative scenario: Above 0.824 look for further upside with 0.8265 & 0.829 as targets. Comment: a break below 0.8195 would trigger a drop towards 0.817. Key levels 0.829 0.8265 0.824 0.821 last 0.8195 0.817 0.815

audusd Pivot: 1.039 Our preference: Short positions below 1.039 with targets @ 1.033 & 1.03 in extension. Alternative scenario: Above 1.039 look for further upside with 1.042 & 1.0445 as targets. Comment: as long as 1.039 is resistance, likely decline to 1.033. Key levels 1.0445 1.042 1.039 1.0361 last 1.033 1.03 1.0285