FXstreet.com (Barcelona) - Euro upside attempt from 1.4755 intra-day low has been capped at 1.4810 and the pair has returned to levels below 1.4800 after unexpectedly grim U.S housing data.

At the moment the euro remains trading right below 1.4800, yet above 1.4770 (Oct 27 low), below here next support levels lie at 1.4755 (Oct 13 low/intra-day low) and 1.4725. On the upside, resistance levels lie at 1.4800/10, and above here, 1.4845 (Oct 26 low), and above here, 1.4860/65.

On the hourly chart, recent bearish trend looks to be losing momentum, according to Valeria Bednarik, collaborator at FXstreet.com: Pair continues under bearish pressure, unable to regain the 1.4800 level; technically, 20 SMA is losing downside momentum while indicators are turning to the upside in the hourly, suggesting some corrective movement ahead, that needs to overcome 1.4835 resistance level, so extend.

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