FXstreet.com (Buenos Aires) - EUR/USD Current Price: EUR/USD Current price: 1.4725. Pair remains consolidating after significant drop early this week. Range is tighter day after day, indicating we are approaching to a breakout, probably explosive, yet still we can't assert to which side it will occur. Inside a continuation triangle in the hourly chart, base comes around 1.4680 strong support area, while currently roof lies around 1.4750; pair needs at least to break above Wednesdays' high around 1.4780 to confirm an upside extension.
Anyway, hourly indicators are flat, giving no clear bias for next hours, while bigger time frames show indicators also flat, yet price moving under 20 SMA that holds the bearish slope said Valeria Bednarik, collaborator at FXstreet.com. Local shares had a positive bias after Wall Street gains, yet that won't mean an Euro rise as correlation between stocks and dollar, has been suffering since past Fridays' U.S. Nonfarm Payroll report. Rather markets will be watching gold that remains slightly bearish after closing to the downside.
Support levels: 1.4710 1.4680 1.4620. Resistance levels: 1.4750 1.4780 1.4830.