Daily Technical Levels from FXCC 1 Aug 2011

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EUR/USD Intraday Technical Levels:

Pivot: 1.4325.
Our Preference: LONG positions @ 1.4335 with 1.442 & 1.4465 in sight.
Alternative Scenario: The downside penetration of 1.4325 will call for 1.4275 & 1.4225.
Comment: the RSI is supported by a rising trend line; the pair is on the upside and is approaching its next resistance.

USD/JPY Intraday Technical Levels:

Pivot: 77.25.
Our Preference: LONG positions @ 77.3 with targets @ 78 & 78.3.
Alternative Scenario: The downside penetration of 77.25 will call for a slide towards 77 & 76.75.
Comment: the RSI has broken above its declining trend line; the pair is posting a rebound.

GBP/USD Intraday Technical Levels:

Pivot: 1.6375.
Our Preference: LONG positions @ 1.6385 with 1.6475 & 1.651 as next targets.
Alternative Scenario: The downside penetration of 1.6375 will call for a slide towards 1.632 & 1.626.
Comment: the pair remains on the upside and is challenging its resistance.

Daily Technical Levels from fxcc [FONT=Arial][SIZE=2]
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