FXstreet.com (Córdoba) - The Euro pulled back after reaching at 1.4999 the highest price of the day. EUR/USD rose more than a hundred pips from the lows of the day to the current level at 1.4962/65, which is 0.75% above today's opening price. To the downside support is located at 1.4950 and below at 1.4900 and 1.4880. If it rises above 1.5000 resistances levels lie at 1.5020 and above at 1.5060. The Euro is rising after falling in the last two sessions.
Liviu Flesar, technical analyst at InnerFX affirms: We'll see if the euro will manage to hold gains above the fresh breached barrier into the 1.4950 region (which is currently under minor pressure) - formed by the falling trend line coming from 1.5045 over the previous lower highs. In case of an extended pullback below 1.4950 - the 1.4850-1.4900 will eventually limit losses in order to keep the bullish structure under development. I maintain my bullish stance on euro but I'm slightly cautious due to the repeated price action hesitation against the 1.5000-1.5060 top side.