FXstreet.com (Barcelona) - The Euro bounced back strongly in the U.S. session, and according to the ActionForex Technical Team, the intraday bias has shifted to positive: EUR/USD rebounds strongly in US session and break of 1.4508 minor resistance indicates that an intraday low is at least formed. Bias is flipped back to the upside for 4 hours 55 EMA (now at 1.4648). The short-term outlook, however, is neutral, according to the ActonForex team, and further decline is on the cards: Note that as long as 1.4715 cluster resistance holds (61.8% retracement of 1.4921 to 1.4365 at 1.4709) holds, short term outlook is neutral at best. Further decline could still be seen. Below 1.4469 will flip intraday bias back to the downside for 1.4309 low.
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