EUR/USD weakened yesterday. However, as long as the support at 1.2362 holds, the shortterm succession of higher lows remains intact. Resistances can now be found at 1.2495 and 1.2532. Another support lies at 1.2247.
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) calls for a decline towards the strong support at 1.2043 (24/07/2012 low). A key resistance stands at 1.2600 (19/11/2014 high).
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