FXstreet.com (Córdoba) - Despite moving away from the highs of the day, the Euro is consolidating above 1.4900 and remains steady. EUR/USD rose sharply after the opening bell at Wall Street from 1.4899 to 1.4963 (intra-day high). Currently the pair is moving lower approaching to the immediate support zone at 1.4930. EUR/USD trades at 1.4937/42, 0.30% above today's opening price.
The ecPulse.com analysis team affirms: So far, the major pairs are narrow trading due to technical movements after that the dollar dropped considerable in the previous EU session to approach a 14-month low as the Federal Reserve proclaimed that it will keep its borrowing rates low within this coming period, while that the Federal Reserve Ben Bernanke sees that the US should focus on cutting its budget deficit.