FXstreet.com (Buenos Aires) - Previous recovery to the 1.4775 area did not hold, and EUR/USD is back down printing a fresh daily low, 1.4715 at the time of writing. U.S. stocks in negative territory, with DJIA down almost 1.0% and S&P losing 0.98% on the day, exacerbate risk aversion favoring further dollar rises, mostly against European rivals.
Pair continues this way, approaching to key midterm levels according to Valeria Bednarik, Fxstreet.com independent analyst. Bednarik sees two mayor support zones ahead, that pair should break to trigger a trend change. first, the 1.4680/1.4700 area, full of daily lows from past October; if we break that, 1.4620, 61.8% retracement of the monthly fall 1.6038/1.2330, also past November low, are key midterm supports for the pair. A daily close under that level or even better a weekly one, will suggest pair has topped at the 1.5140 zone, and trigger more midterm bearish trend. From current level, resistances lie at 1.4780, 1.4820 and 1.4860 zone.