Daily Technical Levels from FXCC 16 Aug 2011

[alayoua]

Daily Technical Levels from FXCC 16 Aug 2011

EUR/USD
Intraday Technical Levels:

Pivot: 1.4375.
Preference: LONG positions @ 1.4385 with targets @ 1.4475 & 1.454.
Alternative Scenario: The downside penetration of 1.4375 will call for 1.4325 & 1.4275.
Comment: the pair is pulling back on its new support ahead of a rebound, the RSI is supported by a rising
trend line.

USD/JPY
Intraday Technical Levels:

Pivot: 77.20.
Preference: SHORT positions @ 77.15 with 76.5 & 76.3 as next targets.
Alternative Scenario: The upside penetration of 77.2 will call for a rebound towards 77.5 & 77.75.
Comment: the pair stands below its resistance and remains under pressure.

GBP/USD
Intraday Technical Levels:

Pivot: 1.6325.
Preference: LONG positions @ 1.6335 with 1.641 & 1.645 as next targets.
Alternative Scenario: The downside breakout of 1.6325 will open the way to 1.6265 & 1.6235.
Comment: the RSI is supported by a rising trend line, the pair should post a rebound on its new support.

Daily Technical Levels from fxcc.com
Source: