FXstreet.com (Córdoba) - The rally of the Euro against the Dollar eased in the last hours. EUR/USD found resistance at 1.4735 and now the pair is pulling back. At 1.4537 the pair reached the highest price in almost a year. On the downside support lies at 1.4700 - 1.4695 and below at 1.4680. Dollar failed earlier to hold gains and rebounded at 1.4640, jumping above 1.4700.
The ecPulse.com analysis team comments: So far, trader's appetite of risk continues on being boosted due to today's overall U.S news and mainly as a result of today's US Industrial Production for August that climbed up to 0.8% and the Capacity Utilization that rose to 69.6%, demonstrating an improvement of the current industrial sector of the world's largest economy and encouraging the target of the higher-yielding assets; the euro and the pound, since this shows a further economic healing of the world's largest economy. As a result, the euro-dollar pair is inclining slightly but is forecasted to drop according to the four-hour stochastic oscillator.