Forex: EUR/USD back above 1.4700

By @ibtimes on

FXstreet.com (Buenos Aires) - After failed to sustain early gains, EUR/USD is back above key 1.4680/1.4700 support area, unable to confirm a break lower; dollar rally was halted by fresh historical high in gold that reached $ 1087.90/oz in the middle of the American session, and remains strongly bullish and quite close to that levels. Despite local share markets are expected to remain in relatively tight ranges as investors will be cautious ahead of FOMC meeting next American afternoon, currencies likely to follow gold prices rather than stocks today.

EUR/USD quotes at 1.4720, with immediate resistance at the 1.4740 area, followed by 1.4770 and 1.4810; supports for next hours come at mentioned 1.4680/1.4700 area, followed by past Tuesday's low of 1.4625 and 1.4600.

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