FX.co ★ EUR/USD Intraday Technical Levels for August 10, 2012

TODAY'S TECHNICAL LEVELS:

Breakout BUY Level: 1.2351.

Strong Resistance: 1.2343.

Original Resistance: 1.2332.

Inner Sell Area: 1.2320.

Target Inner Area: 1.2291.

Inner Buy Area : 1.2262.

Original Support: 1.2250.

Strong Support: 1.2239.

Breakout SELL Level: 1.2231.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.2250 and 1.2332 and is accompanied by strong support at 1.2239 and by 1.2343 as strong resistance.

If EUR/USD breaks out and closes below a 1.2231-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2351-level, then this will denote high bullish strength. Alternatively for advance traders, you can trade in a way to open a BUY position at the level of 1.2262 and at 1.2320 – a SELL position, in this case both targets should be located at the level of 1.2291.

Best regards,