FX.co ★ EUR/USD Technical Analysis. Support And Resistance Levels For October 11, 2010

Breakout Buy level : 1.4066.
Strong Resistance : 1.4057.
Original Resistance : 1.4044.
Inner Sell Area : 1.4030.
Target Inner Area : 1.3997.
Inner Buy Area : 1.3963.
Original Support : 1.3950.
Strong Support : 1.3936.
Breakout Sell level : 1.3928.

After the release of payroll data Gold (XAU/USD) started to move up again. If we look at a daily chart Gold has already formed a Piercing patter. In this case, we expect that today the EUR/USD pair will go up. However, the EUR/USD can break through the support level of 1.3950 and Fibonacci correctional level of 23.6 and close below 1.3928. If such situation happens then an upward movement for this currency pair will fail and it may decline to next Fibonacci correctional level of 38.2 at 1.3879.