PRE US OPEN, Daily Technical Analysis, 31 January 2012

EUR/USD intraday: the upside prevails. Pivot: 1.3115
Most Likely Scenario: Long positions above 1.3115 with targets @ 1.323 & 1.325 in extension.
Alternative scenario: Below 1.3115 look for further downside with 1.3075 & 1.305 as targets.
Comment: the pair is on the upside and is approaching its previous high.

GBP/USD intraday: further advance.
Pivot: 1.5725
Most Likely Scenario: Long positions above 1.5725 with targets @ 1.581 & 1.583 in extension.
Alternative scenario: Below 1.5725 look for further downside with 1.5655 & 1.5625 as targets.
Comment: the RSI is well directed.

USD/JPY intraday: key ST resistance at 76.6. 
Pivot: 76.6
Most Likely Scenario: Short positions below 76.6 with targets @ 76 & 75.75 in extension.
Alternative scenario: Above 76.6 look for further upside with 76.85 & 77.15 as targets.
Comment: technically, the RSI is below its neutrality area at 50.

AUD/USD intraday: further advance. Pivot: 1.061
Most Likely Scenario: Long positions above 1.061 with targets @ 1.0685 & 1.07 in extension.
Alternative scenario: Below 1.061 look for further downside with 1.0565 & 1.052 as targets.
Comment: the RSI is mixed to bullish.

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