UWCFX Daily Technical Levels‏

Daily Technical Levels Wednesday, July 11, 2012 EUR/USD  |   GBP/USD  |   USD/CHF  |   USD/JPY  |   AUD/USD  |   GOLD  |   SILVER  |   CRUDE OIL

EUR/USD intraday: under pressure. Pivot: 1.2295. Our Preference: SHORT positions @ 1.2285 with 1.2235 & 1.221 in sight. Alternative scenario: The upside penetration of 1.2295 will call for 1.2325 & 1.2365. Comment: the pair remains under pressure and is challenging its previous low. Next     GBP/USD intraday: rebound. Pivot: 1.5490. Our Preference: LONG positions above 1.549 with targets @ 1.555 & 1.558. Alternative scenario: The downside breakout of 1.549 will open the way to 1.545 & 1.5425. Comment: the pair is rebounding on its support.  Previous |  Next     USD/CHF intraday: the upside prevails. Pivot: 0.98. Our Preference: LONG positions @ 0.9765 with 0.9825 & 0.9875 as next targets. Alternative scenario: The downside breakout of 0.976 will open the way to 0.974 & 0.971. Comment: the pair has rebounded on its new support and remains on the upside.  Previous |  Next     USD/JPY intraday: capped by a negative trend line. Pivot: 79.50. Our Preference: SHORT positions @ 79.45 with 79.2 & 79.1 in sight. Alternative scenario: The upside penetration of 79.5 will call for a rebound towards 79.7 & 79.8. Comment: the pair is capped by a declining trend line and remains under pressure.  Previous |  Next     AUD/USD intraday: key ST resistance at 1.024. Pivot: 1.024 Our preference: Short positions below 1.024 with targets @ 1.015 & 1.0085 in extension. Alternative scenario: Above 1.024 look for further upside with 1.028 & 1.0325 as targets. Comment: as long as 1.024 is resistance, look for choppy price action with a bearish bias.  Previous |  Next     GOLD (Spot) intraday: key ST resistance at 1582 Pivot: 1582.00 Our Preference: SHORT positions below 1582 with 1564 & 1557 in sight. Alternative scenario: The upside penetration of 1582 will call for 1598 & 1611. Comment: the RSI is around its neutrality area at 50%.  Previous |  Next     SILVER (Spot) intraday: key ST resistance at 27.14 Pivot: 27.14 Our Preference: SHORT positions below 27.14 with 26.75 & 26.6 in sight. Alternative scenario: The upside breakout of 27.14 will open the way to 27.55 & 28.05. Comment: as long as the resistance at 27.14 is not surpassed, the risk of the break below 26.75 remains high.  Previous |  Next     Crude Oil (Aug 12) intraday: under pressure. Pivot: 85.65 Our Preference: SHORT positions below 85.65 with 83.3 & 82.2 in sight. Alternative scenario: The upside penetration of 85.65 will call for a rebound towards 86.5 & 88. Comment: the RSI is mixed with a bearish bias.