EUR/USD was able to bounce of 2014 lows at1.3153 yet buying pressure is thin. The technicalstructure is negative as long as prices remainbelow the hourly resistance at 1.3297(22/08/2014 high). A first hourly resistance lies at1.3220 (25/08/2014 low). A key support stands at1.3105.
In the longer term, EUR/USD is in a successionof lower highs and lower lows since May 2014. Along-term decline towards the strong supportarea between 1.2755 (09/07/2013 low) and 1.2662(13/11/2012 low) is favoured. However, in theshorter term, monitor the key support at 1.3105(06/09/2013 low) given the general oversoldconditions. A key resistance lies at 1.3444(28/07/2014 high).
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