FXstreet.com (Buenos Aires) - EUR/USD Current price: 1.4357. Euro opened the week slightly bearish, gapping to the downside as some risk aversion due to Dubai World credit issues hit the wires this Sunday. With indicators bearish yet showing downside rally a bit overextended and under 20 SMA still with a nice bearish slope, pair needs to break under 1.4335, past Friday's low to accelerate to the downside.
4 hours chars support the bias, while in this time frame indicators show pair has still room to extend the fall. Wall Street fall past Friday could weight on local markets and favor greenback in the cross, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.4335 1.4300 1.4260. Resistance levels: 1.4400 1.4440 1.4480.