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 below 1.2295 with targets @ 1.2235 & 1.221 in extension. Alternative scenario: Above 1.2295 look for further upside with 1.2365 & 1.24 as targets. Comment: the pair is rebounding but stands below its resistance. Next     GBP/USD intraday: rebound. Pivot: 1.5515 Our preference: Long positions above 1.5515 with targets @ 1.558 & 1.5605 in extension. Alternative scenario: Below 1.5515 look for further downside with 1.549 & 1.545 as targets. Comment: the pair is rebounding and is breaking above its resistance as the RSI is well directed.  Previous |  Next     USD/CHF intraday: the upside prevails. Pivot: 0.976 Our preference: Long positions above 0.976 with targets @ 0.9825 & 0.9875 in extension. Alternative scenario: Below 0.976 look for further downside with 0.974 & 0.971 as targets. Comment: the pair is rebounding on its support as the RSI is turning up.  Previous |  Next     USD/JPY intraday: capped by a negative trend line. Pivot: 79.5 Our preference: Short positions below 79.5 with targets @ 79.1 & 78.85 in extension. Alternative scenario: Above 79.5 look for further upside with 79.7 & 79.8 as targets. Comment: the pair remains capped by a declining trend line and is challenging its support.  Previous |  Next     AUD/USD intraday: bullish bias above 1.021. Pivot: 1.021 Our preference: Long positions above 1.021 with targets @ 1.028 & 1.0325 in extension. Alternative scenario: Below 1.021 look for further downside with 1.0175 & 1.015 as targets. Comment: the RSI is bullish and calls for further upside.  Previous |  Next     GOLD (Spot) intraday: the downside prevails. Pivot: 1582.00 Our Preference: SHORT positions below 1582 with targets @ 1564 & 1557. Alternative scenario: The upside breakout of 1582 will open the way to 1598 & 1611. Comment: the index currently faces a challenging resistance area at 1582.  Previous |  Next     SILVER (Spot) intraday: the downside prevails. Pivot: 27.14 Our Preference: SHORT positions below 27.14 with targets @ 26.75 & 26.6. Alternative scenario: The upside penetration of 27.14 will call for 27.55 & 28.05. Comment: the index currently faces a challenging resistance area at 27.14.  Previous |  Next     Crude Oil (Aug 12) intraday: the downside prevails. Pivot: 85.65 Our Preference: SHORT positions below 85.65 with 84 & 83.3 as next targets. Alternative scenario: The upside penetration of 85.65 will call for 86.5 & 88. Comment: the RSI is mixed and calls for caution.