FXstreet.com (Barcelona) - The Euro's rejection at intra-day high at 1.4900 has continued in the last hour to break down MA200 hourly chart at 1.4890 and test 1.4850 level. Currently the pair is trading around 1.4855/65, 0.05% above today's opening price action at 1.4850.

According to Valeria Bednarik, FXstreet.com collaborator, the EUR/USD is waiting for the US trade balance data: Tight range waiting for the report, I do expect a more interesting reaction after the reading. A better than expected reading likely to support optimism triggered early with the European Q3 GDP reports, sending the pair higher; above today's high at 1.4907, a clear acceleration and break above 55 EMA in the 4 hours charts should send the pair to the 1.4950 area.