EUR/USD Technical Levels

Bounces Ahead Of $1.2660 Support

RES 4: $1.2880/85 Daily high 31 Aug & 76.4% of $1.2725 to $1.2979
RES 3: $1.2825/30 76.4% of $1.2666-$1.2880 & Daily high 6, 7 Sept
RES 2: $1.2780 5-day moving average
RES 1: $1.2700 50.0% of $1.2660 to $1.2730

CURRENT LEVEL: $1.2672

SUP 1: $1.2660 Daily low 28 July,23.6% of $1.2979-$1.1645 & 100-day ma
SUP 2: $1.2620 Congestion area June/July
SUP 3: $1.2560 Daily low 26 July
SUP 4: $1.2460 Low of current move 19 July

Bounce ahead of $1.2660 -- 100-day moving average & 23.6% Fibonacci of Nov 2005 to June 2006 rally -- is encouraging and whilst this holds the downside a squeeze to $1.2700 is favoured, which is the 50.0% of today's range so far. Above here, gains to the 5-day moving average at $1.2780 not ruled out, on a pre-weekend squeeze.