FXstreet.com (Córdoba) - The Euro fell a few hours ago to 1.4215 reaching the lowest price since September 4. Form there started to recover and rose finding resistance at 1.4275. Currently the pair trades at 1.4255/60, 0.15% below today's opening price. EUR/USD failed to hold above 1.4300 and weakened further as the Dollar resumed its uptrend.
James Chen, chief technical analyst at FX solutions affirms: The bearish bias in the pair continues to dominate as price continues to make lower highs and lower lows. Currently, price has just made a new 3-month low, with further bearishness likely. A strong breakdown and close below the 1.4250 price region should confirm a downtrend continuation out of the current descending triangle consolidation. In the event of this strong breakdown, a key further support target to the downside resides around the 1.4050 price region.