EUR/USD - EUR/USD Hit Hard by ECB
EUR/USD has crushed its key support at 1.3105 (06/09/2013 low) following the ECB's decisions. Hourly resistances for a short-term bounce can be found at 1.3000 (psychological threshold) and 1.3110 (02/09/2014 high).
In the longer term, EUR/USD is in a succession of lower highs and lower lows since May 2014. The break of the key support at 1.3105 (06/09/2013 low) opens the way for a decline towards the strong support area between 1.2755 (09/07/2013 low) and 1.2662 (13/11/2012 low). A key resistance lies at 1.3297 (22/08/2014 high).