FX.co ★ EUR/USD Technical Analysis. Support and Resistance Levels For November 12, 2010

Today Technical Level :

Breakout Buy level : 1.3720.
Strong Resistance : 1.3712.
Original Resistance : 1.3699.
Inner Sell Area : 1.3686.
Target Inner Area : 1.3653.
Inner Buy Area : 1.3620.
Original Support : 1.3607.
Strong Support : 1.3594.
Breakout Sell level : 1.3586.

Today Market Outlook :

Our yesterday’s forecast confirmed as the EUR/USD pair lost its upside movement and went downwards, after it broke out and closed below the level of 1.3674. The EUR/USD still has a downside tendency. Now it seems the pair will try to reach the mark of 1.3525 before it will move to 1.3500 (the psychological level). However, at first the pair will face with the today’s Strong Support (1.3594). If this level is not going to be broken by the pair today, it will cause the rebound of the EUR/USD to the upsides at least to the Target Inner Area (1.3653).