EUR/USD continues to decline and is nowtesting the strong support area between 1.2755and 1.2662. The short-term momentum isnegative as long as prices remain below thehourly resistance at 1.2901 (23/09/2014 high). Aninitial resistance can be found at 1.2816(22/09/2014 low).
In the longer term, EUR/USD is in a successionof lower highs and lower lows since May 2014.The strong support area between 1.2755(09/07/2013 low) and 1.2662 (13/11/2012 low) ischallenged. An eventual break lower isexpected. A resistance lies at 1.2995 (16/09/2014high).
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