EUR/USD – Technical Analysis (11.12.2014)
After touching more than a two-year low on Monday, the EUR/USD entered into a correction. Although the latter has some more room to unfold, we do not expect to witness sustained euro strength. Next target for the EUR/USD is 1.2530. A potential break through that level will expose the crucial 1.26 resistance, which should put a cap to any further upside attempts. Initial support is offered by 1.2350.
