FXstreet.com (Buenos Aires) - EUR/USD Current price: 1.4253. Euro continues losing ground against dollar despite U.S. mixed data early America that show 2nd revision of GDP for Q3 even lower at 2.2%. Pair extended the downside to a fresh 3 months low of 1.4220 before rebounding to current levels. Hourly charts remain bearish thus bigger time frames had two particular details: rally is way over extended to the downside, while we approach to 1.4180 area, 50 % retracement of the weekly fall, plus past September low.
That's the key level to watch, as a strong rebound there will suggest pair is ready for a more interesting upside correction that could reach the 1.4410 area, while consolidation close to that zone, will support a break lower, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.4220 1.4180 1.4150. Resistance levels: 1.4300 1.4340 1.4410.