EURUSD (Daily) / IN THE MIDDLE OF ITS MAJOR BEARISH CHANNEL /
The EUR/USD is currently in a major bearish channel that started in August 2011. In the short term, the pair is just above a key intermediate support at 1.2250. In such a configuration, a bullish consolidation is possible with a rebound on the 1.2400 area.
Inversely, in case of a close below the support area by 1.2250, a bearish acceleration could take place with a return on the 1.19 area that corresponds to the June 2010 level.
The 50 and 200-day moving averages are bearish. RSI is weak.
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