FXstreet.com (Buenos Aires) - After past Thursday rise in Wall Street following better than expected 3Q GDP, local stocks markets are expected to also rose, sending dollar lower as risk appetite returns. After reaching key resistances levels, during past Asian session, dollar failed to break and continue rising, suggesting the American currency is back on disfavor across the board.
Also Japanese Yen likely to extend the strong fall against major rivals after losing the 91.00 level against dollar, 150.60 against Gbp and 135.00 against Euro; expect those levels to hold if a downside correction occur. Being the last day of the month, dollar favored movements could happen as a result of profit booking, more likely at the end of each of next sessions.
EUR/USD needs to overcome the 1.4860 area to extend the upside and attempt a retest of the 1.4925 zone. Under 1.4770, pair will lose upside momentum, and likely start another downside movement.