FXstreet.com (Buenos Aires) - EUR/USD Current Price: 1.4212. Consolidating just above 1.4200, hourly charts show downside rally has been over extended and pair aiming for some short upside correction before a new down leg; Nikkei 225 opening 1.4% down will put some extra downside pressure in the pair, that has immediate supports at 1.4180 and 1.4150, base of past day's range; clear break under that level, could accelerate the downside, and send the pair to test the lows 1.4100.
20 SM remains clearly bearish, as well as bigger time frames, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.4180 1.4150 1.4110. Resistance levels 1.4230 1.4250 1.4280.