EUR/USD remains within its short-termdeclining channel, indicating persistent sellingpressures. Hourly resistances can now be foundby 1.2509 (10/11/2014 high) and 1.2577(04/11/2014 high). An hourly support can befound at 1.2358 (07/11/2014 low). Anothersupport lies at 1.2242 (10/08/2012 low).
In the longer term, EUR/USD is in a downtrendsince May 2014. The break of the strong supportarea between 1.2755 (09/07/2013 low) and 1.2662(13/11/2012 low) has opened the way for adecline towards the strong support at 1.2043(24/07/2012 low). A key resistance stands at1.2886 (15/10/2014 high).
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