FXstreet.com (Buenos Aires) - EUR/USD Current price: 1.4536. Consolidating at 10 weeks low, pair has fell amid signs U.S. economy may be picking up steam ahead of countries in euro zone. Rally likely to extend during Asian session, as market keeps expecting a hawkish speech coming from FED later on Wednesday.
Hourly charts show pair correcting the oversold state reached early U.S. session, thus 20 SMA above current price, as well as 4 hours indicators remain bearish, suggesting upside will remain limited by the 1.4580/1.4620 resistance area. Local share markets are expected to remain under pressure, after Wall Street loses, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.4510 1.4460 1.4420. Resistance levels: 1.4580 1.4620 1.4660.