FXstreet.com (Barcelona) - Euro dollar fell in early U.S. session despite worse than expected U.S retail sales, and according to the ActionForex Technical Team, the bias remains on the downside: EUR/USD's fall resumes after brief recovery and dives to as low as 1.3096 in early US session. At this point, intraday bias remains on the downside as long as 1.3343 minor resistance holds. As discussed before, consolidation from 1.2329 has possibly completed at 1.4719 already.
From now on, further support levels, according to the ActionForex Technical team, stamd as follows: Further decline should be seen to 1.2549 support first then retest 1.2329 low. On the upside, above 1.3343 will turn intraday outlook neutral first. But break of 1.3796 resistance is needed to indicate that fall from 1.4719 has completed. Otherwise, short term outlook remains bearish.