EUR/USD is consolidating. The recent succession of lower highs needs to be broken to favour further short-term strength. Hourly resistance stand at 1.2495 and 1.2532. Hourly supports can be found at 1.2415 (15/12/2014 low) and 1.2362.
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).
Read the full report: Technical Research