EUR/USD remains weak despite the key support at 1.1877 (07/06/2010 low). A break of the hourly resistance at 1.1976 is needed to suggest a weakening bearish momentum. Another hourly resistance lies at 1.2110.
In the longer term, EUR/USD is in a downtrend since May 2014. The strong support area between 1.2043 (24/07/2012 low) and 1.1877 (07/06/2010 low) is challenged. The technical structure favours an eventual break lower. Other key supports can be found at 1.1640 (15/11/2005) and 1.0765 (03/09/2003 low). A key resistance stands at 1.2252 (25/12/2014 high).
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