Update - Daily Technical Levels from FXCC – 1 Aug 2011

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Update - Daily Technical Levels from FXCC – 1 Aug 2011


EUR/USD Intraday Technical Levels:

Pivot: 1.435
Preference: Long positions above 1.435 with targets @ 1.4465 & 1.454 in extension.
Alternative Scenario: Below 1.435 look for further downside with 1.4275 & 1.4225 as targets.
Comment: the RSI is supported by a rising trend line, the pair is on the upside and is challenging its resistance.

USD/JPY Intraday Technical Levels:

Pivot: 77.4
Preference: Short positions below 77.4 with targets @ 76.75 & 76.5 in extension.
Alternative Scenario: Above 77.4 look for further upside with 77.75 & 78 as targets.
Comment: the pair remains on the downside and is approaching its previous low.

GBP/USD Intraday Technical Levels:

Pivot: 1.6375
Preference: Long positions above 1.6375 with targets @ 1.6475 & 1.6510 in extension.
Alternative Scenario: Below 1.6375 look for further downside with 1.632 & 1.626 as targets.
Comment: the pair is pulling back on its support ahead of a rebound.

Daily Technical Levels from fxcc
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