EUR/USD continues to move lower. The recentnew lows confirm persistent selling pressures. The short-term technical structure is negative aslong as prices remain below the hourlyresistance at 1.3297 (22/08/2014 high). Anotherresistance stands at 1.3336 (12/08/2014 low).
In the longer term, EUR/USD is in a successionof lower highs and lower lows since May 2014.The downside risk given by 1.3210 (second leglower after the rebound from 1.3503 to 1.3700)has been met. Monitor the key support at 1.3105(06/09/2013 low) given the general oversoldconditions. A key resistance lies at 1.3444(28/07/2014 high).
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