FXstreet.com (Buenos Aires) - EUR/USD Current Price: 1.4849. Despite technically oversold, hourly charts for the pair show a continuation figure, with 1.4840 as key support level to watch, also the 38.2% retracement of the daily rally 1.4480/1.5063.

20 SMA has turned strongly bearish, thus bigger time frames show indicators a bit exhausted to the downside, suggesting some upside corrective movement to come in the next hours that could reach 1.4910 without harming current bearish trend.

Break under 1.4840 will deny upside corrective movements and accelerate the fall, with movements likely following local indexes and gold, said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.4840 1.4810 1.4760. Resistance levels: 1.4880 1.4910 1.4945.