FXstreet.com (Buenos Aires) - EUR/USD Current Price: 1.5001. Consolidating around daily high, Euro remains well bid on DJIA yearly high and gold prices above $ 1100/oz. Hourly charts show pair consolidating in a tight range between 1.4980/1.5020, with a strongly bullish 20 SMA, suggesting more upside to come if local shares replicates Wall Street gains.
4 hours charts show a continuation formation, a symmetrical triangle, thus indicators lost upside momentum and pair remains close to overbought levels; expect an acceleration above 1.5020 to confirm further upside rallies, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.4980 1.4940 1.4900. Resistance levels: 1.5020 1.5065 1.5110.