FXstreet.com (Buenos Aires) - Despite some earlier downside movement, EUR/USD remains barely 70 pips under the yearly high, entering the Asian session quoting around 1.4985. Current candle opening above 20 SMA in the 4 hours charts suggest pair likely to extend the upside, if local shares managed to rise after Wall Street early gains.

Resistances for the pair come at 1.5000, the 1.5020 area, and above 1.5060 yearly high. Above this last, 1.5110 will come in focus, while midterm target will be around 1.5380, base of 2008. To the downside, first support comes at the 1.4950 area, followed by 1.4910; under this last, correction to the downside could extend close to 1.4840 zone.

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