Update Daily Technical Levels from FXCC 25 Aug 2011

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Update Daily Technical Levels from FXCC 25 Aug 2011

EUR/USD
Intraday Technical Levels:

Pivot: 1.4400
Preference: Long positions above 1.44 with targets @ 1.448 & 1.4515 in extension.
Alternative Scenario: Below 1.44 look for further downside with 1.4375 & 1.4345 as targets.
Comment: the pair is rebounding on its new support and should post further advance.
USD/JPY
Intraday Technical Levels:

Pivot: 76.85
Preference: Long positions above 76.85 with targets @ 77.25 & 77.5 in extension.
Alternative Scenario: Below 76.85 look for further downside with 76.7 & 76.45 as targets.
Comment: the RSI is supported by a rising trend line, the pair stands above its new support.

GBP/USD
Intraday Technical Levels:

Pivot: 1.64
Preference: Short positions below 1.64 with targets @ 1.6345 & 1.6325 in extension.
Alternative Scenario: Above 1.64 look for further upside with 1.6425 & 1.6475 as targets.
Comment: the pair is posting a rebound but stands below its resistance.

Daily Technical Levels from fxcc.com
Source: