EUR/USD continues to grind higher. However,the resistance at 1.2577 (see also the decliningtrendline) has held thus far. Another resistancecan be found at 1.2632. Hourly supports stand at1.2502 (intraday low) and 1.2444 (18/11/2014low).
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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