FX.co ★ EUR/USD Intraday Technical Levels for August 15, 2012

TODAY'S TECHNICAL LEVELS:

Breakout BUY Level: 1.2384.

Strong Resistance: 1.2376.

Original Resistance: 1.2365.

Inner Sell Area: 1.2353.

Target Inner Area: 1.2324.

Inner Buy Area: 1.2296.

Original Support: 1.2283.

Strong Support: 1.2274.

Breakout SELL Level: 1.2266.

DESCRIPTION:

At present EUR/USD has support and resistance at 1.2283 and 1.2365 and is accompanied by strong support at 1.2274 and by 1.2376 as strong resistance.

If EUR/USD breaks out and closes below a 1.2266-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2384-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 1.2296 and at 1.2353 – a SELL position, in this case both targets should be located at the level of 1.2324.

Best regards,