EUR/USD consolidates above 1.4300

  @ibtimes on December 23 2009 6:33 PM

FXstreet.com (Buenos Aires) - EUR/USD Current price: 1.4329. Markets keep getting thinner as holidays extend; regional stock markets likely to remain in tight ranges as well as major crosses, with Euro trading against dollar between 1.4380/1.4280 area. Hourly charts show pair halted past sessions corrective upside movement exactly at the 14.6% of the last daily fall from 1.5132, with indicators exhausted to the upside.

Still above 20 SMA, pair could extend the recovery to the 1.4410 area without losing the midterm bearish tone, as today U.S. negative data, could had been a good excuse just to take some profits of this new born trend, said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.4300 1.4280 1.4250. Resistance levels: 1.4380 1.4410 1.4460.

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