Update - Daily Technical Levels from FXCC – 3 Aug 2011

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Update - Daily Technical Levels from FXCC – 3 Aug 2011


EUR/USD Intraday Technical Levels:

Pivot: 1.425
Preference: Long positions above 1.425 with targets @ 1.4345 & 1.438 in extension.
Alternative Scenario: Below 1.425 look for further downside with 1.42 & 1.415 as targets.
Comment: the pair is rebounding on its new support and should post further up move.

USD/JPY Intraday Technical Levels:

Pivot: 77.4
Preference: Short positions below 77.4 with targets @ 76.95 & 76.7 in extension.
Alternative Scenario: Above 77.4 look for further upside with 77.65 & 78.05 as targets.
Comment: the pair has struck against its resistance and remains on the downside.

GBP/USD Intraday Technical Levels:

Pivot: 1.633
Preference: Long positions above 1.633 with targets @ 1.643 & 1.6475 in extension.
Alternative Scenario: Below 1.633 look for further downside with 1.6295 & 1.625 as targets.
Comment: the pair remains on the upside and is challenging its resistance.

Daily Technical Levels from fxcc.com
Source: FX Central Clearing http://www.fxcc.com