The EUR/USD continued decreasing on Monday with over 250 pips lost. On the 1 hour chart the quotes tested the trend line as a support again, which is still holding. Technically the EURO is still experiencing downward pressure and if the trend line is broken downwards, we may see further descending momentum towards the key support level 1.3700. Immediate support is 1.3750. If we see a break of this level it may trigger further bearish movements. The closest resistance is 1.3885, a break of which may renew the upward trend of the Euro. The CCI indicator is about to cross down the 100 line on the 4 hour and daily charts, assuming potential decreasing pressure, and up on the 1 hour chart, suggesting insignificant upward correction. Technical resistance levels: 1.3885 1.3960 1.4100 Technical support levels: 1.3750 1.3620 1.3490
