Update Daily Technical Levels from FXCC 22/08/2011

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Update Daily Technical Levels from FXCC 22/08/2011

EUR/USD
Intraday Technical Levels:

Pivot: 1.4345
Preference: Long positions above 1.4345 with targets @ 1.4435 & 1.4475 in extension.
Alternative Scenario: Below 1.4345 look for further downside with 1.43 & 1.427 as targets.
Comment: the pair is on the upside and is challenging its resistance, the RSI is mixed to bullish.

USD/JPY
Intraday Technical Levels:

Pivot: 77
Preference: Short positions below 77 with targets @ 76.4 & 76 in extension.
Alternative Scenario: Above 77 look for further upside with 77.5 & 77.9 as targets.
Comment: the pair stands below its resistance and remains under pressure.

GBP/USD
Intraday Technical Levels:

Pivot: 1.644
Preference: Long positions above 1.644 with targets @ 1.655 & 1.662 in extension.
Alternative Scenario: Below 1.644 look for further downside with 1.64 & 1.632 as targets.
Comment: the pair stands above its support and should post a rebound.

Daily Technical Levels from fxcc.com
Source: