FXstreet.com (Buenos Aires) - EUR/USD Current Price: 1.4514. Euro continues weakening on risk aversion, as Nikkei 225 opened to the downside 1.3%. Current hourly candle opening under 1.3515, 50% retracement of last daily up leg, and strongly bearish 20 SMA above current price support further falls for next hours, with strong support at 1.4440 area, 61.8% retracement of the same 1.4190/.14842 rally.
If pair manages to break under, expect strong downside momentum in the pair, despite next U.S. session Non Farm Payrolls. Only clearly above 1.4600, and more likely 1.4660 area, pair could deny current bias and attempt to rise, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.4500 1.4475 1.4440. Resistance levels: 1-4545 1.4580 1.4610.