FXstreet.com (Buenos Aires) - Dollar bulls quickly unwind positions at the first sign of rising stocks and EUR/USD rose fast to test the 1.4700 level, 20 SMA in 4 hours charts. Indicators in the mentioned time frame lost bearish slope and turned to the upside, still far from giving continuation signals, yet market main driver remains sentiment. As long as pair manages to close day above 1.4640 area, seems downside correction could be considered complete, and pair will be setting for a fresh yearly high. Above 1.4720, resistances come at 1.4770 area; with an intermediate resistance around 1.4820, pair target above mentioned 1.4770 level, comes at 1.4860 strong zone.
Daily close under 1.4640, not seen at this point, will open doors for further falls, with supports at 1.4610 and 1.4550 key level. Long term bias could change only under 1.4400 area, 61.8% retracement of the last daily upside rally, measured from 1.4190 to 1.4767.