Daily Technical Levels from FXCC – 4 Aug 2011


EUR/USD
Intraday Technical Levels:

Pivot: 1.4250.
Preference: LONG positions @ 1.426 with targets @ 1.435 & 1.438.
Alternative Scenario: The downside penetration of 1.425 will call for 1.42 & 1.415.
Comment: the pair stands above its new support (50% Fibonacci retracement) and should post a rebound.

USD/JPY
Intraday Technical Levels:

Pivot: 78.40.
Preference: LONG positions @ 78.45 with 79.5 & 79.85 as next targets.
Alternative Scenario: The downside penetration of 78.4 will call for a slide towards 78 & 77.6.
Comment: the pair and its intraday RSI have broken above their declining trend lines.

GBP/USD
Intraday Technical Levels:

Pivot: 1.6400.
Preference: SHORT positions @ 1.639 with targets @ 1.633 & 1.6295.
Alternative Scenario: The upside penetration of 1.64 will call for 1.644 & 1.6475.
Comment: the RSI has broken below a rising trend line, the pair is under pressure.

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