Update Daily Technical Levels from FXCC 17 Aug 11

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Update Daily Technical Levels from FXCC 17 Aug 11

EUR/USD
Intraday Technical Levels:

Pivot: 1.4400
Preference: Long positions above 1.44 with targets @ 1.45 & 1.455 in extension.
Alternative Scenario: Below 1.44 look for further downside with 1.435 & 1.431 as targets.
Comment: the RSI is well directed, the pair is on the upside and is challenging its resistance.

USD/JPY
Intraday Technical Levels:

Pivot: 77.00
Preference: Short positions below 77 with targets @ 76.3 & 76 in extension.
Alternative Scenario: Above 77 look for further upside with 77.2 & 77.5 as targets.
Comment: the pair remains under pressure and is approaching its next support.

GBP/USD
Intraday Technical Levels:

Pivot: 1.6400
Preference: Long positions above 1.64 with targets @ 1.654 & 1.6575 in extension.
Alternative Scenario: Below 1.64 look for further downside with 1.636 & 1.6325 as targets.
Comment: the pair has rebounded on its MT rising trend line and is challenging its resistance

Daily Technical Levels from fxcc.com
Source: