Update Daily Technical Levels from FXCC 24 Aug 2011

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Update Daily Technical Levels from FXCC 24 Aug 2011

EUR/USD
Intraday Technical Levels:

Pivot: 1.44
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 remains on the upside and is challenging its resistance, a pull back should not be ruled out ahead of further advance.
USD/JPY
Intraday Technical Levels:

Pivot: 76.9
Preference: Short positions below 76.9 with targets @ 76.4 & 76.2 in extension.
Alternative Scenario: Above 76.9 look for further upside with 77 & 77.25 as targets.
Comment: the RSI is badly directed, the pair is under pressure and is approaching its support.

GBP/USD
Intraday Technical Levels:

Pivot: 1.6525
Preference: Short positions below 1.6525 with targets @ 1.6435 & 1.641 in extension.
Alternative Scenario: Above 1.6525 look for further upside with 1.6575 & 1.66 as targets.
Comment: the RSI is badly directed, the pair is breaking below its support and should face further weakness.

Daily Technical Levels from fxcc.com
Source: