EUR/USD is bouncing. However, as long as the hourly resistances at 1.1897 and 1.1976 are not broken, the short-term technical structure remains negative. An hourly support lies at 1.1754, while a key support stands at 1.1640.
In the longer term, the break of the strong support area between 1.2043 (24/07/2012 low) and 1.1877 (07/06/2010 low) confirms the underlying bearish trend. The long-term symmetrical triangle favours further significant weakness. Key supports can be found at 1.1640
(15/11/2005) and 1.0765 (03/09/2003 low), whereas a key resistance stands at 1.2252 (25/12/2014 high).
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