EUR/USD continues to decline as can be seenby the break of the strong support at 1.3296. Theshort-term technical structure is negative as longas prices remain below the hourly resistance at1.3336 (12/08/2014 low). An initial resistance canbe found at 1.3297 (intraday high).
In the longer term, EUR/USD is in a successionof lower highs and lower lows since May 2014. Adownside risk is given by 1.3210 (second leglower after the rebound from 1.3503 to 1.3700).A key support now stands at 1.3105 (06/09/2013low), whereas a key resistance lies at 1.3444(28/07/2014 high).
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