EUR/USD has bounced near the hourly support at 1.2362. The short-term succession of higher lows remains intact. Monitor the hourly resistances at 1.2495. Another hourly resistance lies at 1.2532, whereas another support can be found 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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