EUR/USD continues to move lower and is nowclose to its key support at 1.3105 (06/09/2013low). Hourly resistances for a short-term bouncecan be found at 1.3221 (28/08/2014 high) and1.3297 (22/08/2014 high).
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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