EUR/USD is testing its key support at 1.3105(06/09/2013 low). Will today’s ECB meeting beable to push prices lower? Hourly resistancesstand at 1.3221 (28/08/2014 high) and 1.3297(22/08/2014 high). Another support is given bythe psychological threshold at 1.3000.
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 test of the key supportat 1.3105 (06/09/2013 low) given the generaloversold conditions. A key resistance lies at1.3444 (28/07/2014 high).
Read the full report: Technical Research