The European Central Bank Council member Axel Weber said that the ECB should help banks to overcome liquidity pressure till the end of the year before making a decision about when to give the emergency aid. That statement brought up fears about the European recovery ahead of the reports on the performance of the US housing sector. A total of 54 economists have predicted that the purchase of new and existing homes will fall by 12% in July. The ECB officials’ comments force the market to re-focus on the European economy; the uncertainty about the economic recovery makes the market reluctant to take excessive risks. So, the result of that statement was that last week on Friday the EUR/USD pair had already a Breakout and closed below "The Breakout SELL level", thus losing the strength of that pair (the euro – the US dollar).
However, here are the important intraday levels for this pair today :
Breakout Buy level : 1.2758.
Strong Resistance : 1.2751.
Original Resistance : 1.2739.
Inner Sell Area : 1.2727.
Target Inner Area : 1.2697.
Inner Buy Area : 1.2667.
Original Support : 1.2655.
Strong Support : 1.2643.
Breakout Sell level : 1.2635.
