Tuesday, August 9, 2011

EUR/USD Intraday Technical Level - August 9, 2011







SHORT  DESCRIPTION :

Since yesterday the EUR/USD has found its support level at 1.4175 area and is currently testing the resistance level at 1.4250. If this level is successfully penetrated upwards, then there is a possibility the next level at 1.4275 will be the first targets to be achieved and then 1.4300 will be tested. 

On the other hand, if EUR/USD today succeeds to break out and close below the 1.4175, then there is a possibility of this currency to test the next area of support at 1.4075 as the primary target and the 1.4000 as the second target, but this level (1.4000) must be reached within the maximum of three days.


Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2011