FXstreet.com (Barcelona) - The Euro has found support at 1.3484, in the early American session, after falls from the 1.3737 strong resistance. Currently, the pair is trading around the 1.3550/70.
The pair has been rejected three times by the 1.3737 resistance (March 19, 20 and 23 high), last one was today's high and the EUR/USD fell around 250 pips from the 1.3737 to the 1.3484, today's minimum.
According to Valeria Bednarik, FXstreet.com, the EUR/USD has reached triple roof on 4 hours charts: The pair is right now ready to break the 20 SMA that remains clearly bullish at this time. Next candle opening under it, could put more selling pressure on the pair, better If confirmations comes under 1.3510, neck of the figure. Consider next supports at 1.3480, followed by the 1.3410 zone that should halt today's downside. Resistances from actual 1.3550 zone, will be at 1.3590, 1.3621 and 1.3666 for today.
Bednarik concludes: Daily charts suggest further downside pressure only under 1.3470, 23.6% of the last up leg 1.2590/1.3738. Price was unable to break above the 200 EMA around 1.3660 and that should be our first longer term barrier, followed by the highs at 1.3740. 1.3300, the 38.2% of the mentioned rally, seems a reasonable target for further downside corrections in the next days. Pair behavior around there, will give further clues.