FX.co ★ EUR/USD Intraday Technical Levels for February 29, 2012

TODAY's TECHNICAL LEVELS:

Breakout BUY Level : 1.3537.

Strong Resistance : 1.3526.

Original Resistance : 1.3516.

Inner Sell Area : 1.3502.

Target Inner Area : 1.3471.

Inner Buy Area : 1.3365.

Original Support : 1.3426.

Strong Support : 1.3413.

Breakout SELL Level : 1.3405.

DESCRIPTION :

Today EUR/USD has support and resistance at 1.3426 and 1.3516 and is accompanied by strong support at 1.3413 and by 1.3526 as strong
resistance.

If EUR/USD breaks out and closes below a 1.3405-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.3537-level, then this will denote high bullish strength. Alternatively, you can trade in a way to open a BUY position at the level of 1.3365, and at 1.3502– a SELL position, in this case both targets should be located at the level of 1.3471.