EUR/USD has broken the key support at 1.1640 and has moved below the psychological support at 1.1500. As a result, the recent strength is seen as a temporary rebound. Hourly resistances can be found at 1.1649 and 1.1747 (intraday high, see also the declining trendline). Hourly supports lie at 1.1546 (19/01/2015 low) and 1.1460.
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 1.1000
(psychological support) and 1.0765 (03/09/2003 low), whereas a key resistance stands at 1.2252 (25/12/2014 high).
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