EUR/USD continues to move lower, confirmingpersistent selling pressures. However, in theshort-term, the psychological threshold at 1.2500has held thus far. Hourly resistances for a shorttermbounce can be found at 1.2584 (01/10/2014low) and 1.2699 (02/10/2014 high).
In the longer term, EUR/USD is in a successionof lower highs and lower lows since May 2014.The break of the strong support area between1.2755 (09/07/2013 low) and 1.2662 (13/11/2012low) opens the way for a decline towards thestrong support at 1.2043 (24/07/2012 low).Intermediate supports are given by 1.2500(psychological support) and 1.2466 (28/08/2012low).
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