EUR/USD has successfully tested the support at 1.2358. However, the subsequent bounce is thus far unimpressive. Hourly resistances can be found at 1.2460 (intraday high) and 1.2504 (20/11/2014 low).
In the longer term, EUR/USD is in a downtrend since May 2014. The break of the strong support area between 1.2755 (09/07/2013 low) and 1.2662 (13/11/2012 low) has opened the way for a decline towards the strong support at 1.2043 (24/07/2012 low). A key resistance stands at 1.2886 (15/10/2014 high).
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