Update Daily Technical Levels from FXCC 18 Aug 2011

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Update Daily Technical Levels from FXCC 18 Aug 2011

EUR/USD
Intraday Technical Levels:

Pivot: 1.435
Preference: Long positions above 1.435 with targets @ 1.4415 & 1.445 in extension.
Alternative Scenario: Below 1.435 look for further downside with 1.431 & 1.4275 as targets.
Comment: the pair is pulling back on its support, the RSI calls for caution.

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 stands below its resistance and remains under pressure.

GBP/USD
Intraday Technical Levels:

Pivot: 1.6475
Preference: Long positions above 1.6475 with targets @ 1.655 & 1.659 in extension.
Alternative Scenario: Below 1.6475 look for further downside with 1.6425 & 1.64 as targets.
Comment: the pair is pulling back on its MT rising trend line, the RSI calls for caution.

Daily Technical Levels from fxcc.com
Source: