FXstreet.com (Buenos Aires) - Dollar starts the week with a bearish tone, after failed to extend past Thursday rally, and reverse gains on Friday, after Wall Street rallied amid better than expected earnings reports. EUR/USD quotes at 1.4930, while GBP/USD regained the 1.6700 area approaching to 1.6720. Despite market remains fluctuating on risk sentiment, rate differentials seem to have been winning the battle, and capturing investors attention at the end.
Dollar could extend the fall against major rivals, during next Asian session as local shares likely to follow Wall Street; EUR/USD resistances lie at 1.4960 and 1.5000 area, while immediate supports lie at 1.4920 and 1.4880 area. GBP/USD has a strong zone around 1.6740 that if cleared, will open doors for further rises with next resistances at 1.6790 and 1.6840 this month high. Supports for the next hours lie at 1.6690, 1.6640 area and 1.6610.