The EUR/USD  is breaking below the 1.22 level ahead of the 7/12 US session, continuing a bearish swing that started late June, early  July. This is continuing a breakaway from June’s corrective rally back into the bearish mode that started earlier in the year in February. The 1H RSI shows persistent bearish momentum with the reading holding below 60 after dipping below 30. The daily RSI reading is showing similar bearish momentum building in a larger degree. EUR/USD continues to hold the bearish outlook toward the 2010 low at about 1.19. We should also expect the 1.20 level to be a psychological barrier. ... (full story)