EUR/USD Intraday Technical Levels for May 10, 2012

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TODAY's TECHNICAL LEVELS:

Breakout BUY Level : 1.2996.
Strong Resistance : 1.2988.
Original Resistance : 1.2976.
Inner Sell Area : 1.2963.
Target Inner Area : 1.2933.
Inner Buy Area : 1.2903.
Original Support : 1.2980.
Strong Support : 1.2877.
Breakout SELL Level : 1.2871.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.2980 and 1.2976 and is accompanied by strong support at 1.2877 and by 1.2988 as strong resistance.
If EUR/USD breaks out and closes below a 1.2871-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2996-level, then this will denote high bullish strength. Alternatively, you can trade in a way to open a BUY position at the level of 1.2903, and at 1.2963– a SELL position, in this case both targets should be located at the level of 1.2933.