EUR/USD is challenging the strong supportarea between 1.2755 and 1.2662. The short-termmomentum is negative as long as prices remainbelow the hourly resistance at 1.2901(23/09/2014 high). An initial resistance can befound 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). Another strong support lies at 1.2043(24/07/2012 low).
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