EUR/USD has broken the hourly support at1.2440 (03/11/2014 low), confirming persistentselling pressures. A support lies at 1.2242(10/08/2012 low). Hourly resistances stand at1.2457 (05/11/2014 low) and 1.2533 (06/11/2014high).
In the longer term, EUR/USD is in a downtrendsince May 2014. The break of the strong supportarea between 1.2755 (09/07/2013 low) and 1.2662(13/11/2012 low) has opened the way for adecline towards the strong support at 1.2043(24/07/2012 low). A key resistance stands at1.2886 (15/10/2014 high).
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