FXstreet.com (Buenos Aires) - EUR/USD Current price: 1.4108. Pair opened current session under the 38.2% retracement of past 2009 upside rally, measured from March low of 1.2456 to November high around 1.5143, turning that level, 1.4120 into the first resistance level for current session. Hourly charts continue to show indicators in oversold territory, as well as 4 hours charts, yet no further signs of an upside corrective movement yet.
20 SMA above current price in the hourly should also keep the upside limited, as we can not discard some corrective movement ahead. Regional stocks markets had a quite negative cue from Wall Street that close the worst day of this month, while risk aversion likely to be on hold awaiting for Chinese data due later in the day, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.4075 1.4040 1.4000. Resistance levels: 1.4135 1.4180 1.4215.