FX.co ★ EUR/USD Intraday Technical Levels for July 20, 2012

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.2336.

Strong Resistance: 1.2329.

Original Resistance: 1.2317.

Inner Sell Area: 1.2305.

Target Inner Area: 1.2276.

Inner Buy Area: 1.2247.

Original Support: 1.2235.

Strong Support: 1.2223.

Breakout SELL Level: 1.2215.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.2235 and 1.2317 and is accompanied by strong support at 1.2223 and by 1.2329 as strong resistance.

If EUR/USD breaks out and closes below a 1.2215-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2336-level, then this will denote high bullish strength. Alternatively, you can trade in a way to open a BUY position at the level of 1.2247, and at 1.2305– a SELL position, in this case both targets should be located at the level of 1.2276.

Best regards,