FX.co ★ EUR/USD Intraday Technical Levels for January 17, 2012

TODAY's TECHNICAL LEVELS:

Breakout BUY Level : 1.2739.

Strong Resistance : 1.2731.

Original Resistance : 1.2719.

Inner Sell Area : 1.2707.

Target Inner Area : 1.2677.

Inner Buy Area : 1.2646.

Original Support : 1.2635.

Strong Support : 1.2623.

Breakout SELL Level : 1.2615.

DESCRIPTION :

Today EUR/USD has support and resistance at 1.2635 and 1.2719, and is accompanied by strong support at 1.2623 and by 1.2731 as strong resistance.
If EUR/USD breaks out and closes below a 1.2615-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2739-level, then this will denote high bullish strength. Alternatively, you can trade in a way to open a BUY position at the level of 1.2646, and at 1.2707– a SELL position; in this case both targets should be located at the level of 1.2677.