EUR/USD is bouncing after having posted new lows. Hourly resistances to monitor stand at 1.2393 (05/12/2014 high) and 1.2456 (see also the declining trendline). An hourly support now lies 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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