Daily Forex/Technical Analysis - Pre EU Open - 3rd April 2014

EUR/USD Intraday: under pressure.
Pivot: 1.3795

Most Likely Scenario: Short positions below 1.3795 with targets @ 1.374 & 1.372 in extension.
Alternative scenario: Above 1.3795 look for further upside with 1.382 & 1.3845 as targets.
Comment: The pair has validated a rising wedge and remains under pressure.

GBP/USD Intraday: the upside prevails.
Pivot: 1.6605
Most Likely Scenario: Long @ 1.662 with targets @ 1.668 & 1.672 in extension.
Alternative scenario: Below 1.6605 look for further downside with 1.655 & 1.6505 as targets.
Comment: The pair stands above its support and remains on the upside.

USD/JPY Intraday: the upside prevails.
Pivot: 103.4
Most Likely Scenario: Long positions above 103.4 with targets @ 104.1 & 104.45 in extension.
Alternative scenario: Below 103.4 look for further downside with 102.95 & 102.65 as targets.
Comment: The pair remains supported by a rising trend line.

AUD/USD Intraday: the downside prevails.
Pivot: 0.9255
Most Likely Scenario: Short positions below 0.9255 with targets @ 0.918 & 0.915 in extension.
Alternative scenario: Above 0.9255 look for further upside with 0.93 & 0.934 as targets.
Comment: The pair is breakng below its support.