FXstreet.com (Buenos Aires) - EUR/USD Current price: 1.4625. Asian session started quietly, with dollar holding past week gains against major rivals across the board. EUR/USD quotes around past Friday's close of 1.4620, with dollar consolidating gains. Asian stocks had a positive perspective from Wall Street gains, thus correlation between currencies and stocks, likely to continue detaching. Volumes become thinner ahead of Christmas, so pair likely to consolidate in range.
Hourly charts show a small flag consolidation formation, with indicators flat at the lows, yet 20 SMA strongly bearish above current price. Bigger time frames support the bearish bias for next sessions, although an upside corrective movement should not be discarded, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.4580 1.4550 1.4510. Resistance levels: 1.4660 1.4690 1.4730.