FXstreet.com (Barcelona) - The Euro has bounced after a slight dip post U.S. personal income, to break above 1.4375 , after several attempts, reaching a new high at 1.4388.
On the upside, if the pair confirms above here, next resistance level could be located at Aug 27 high 1.40405, and then, 1.4430 and 1.4445 (Aug 5 high). On the downside, below 1.4275, support levels lie at 1.4325 intra-day low, and below here, 1.4310 and 1.4280.
Valeria Bednarik, collaborator at FXstreet.com, points out to positive sentiment, outbalancing bearish signals on 1 and 4 hr charts. Sentiment continues supporting further rises in the pair, despite both 1 and 4 hours indicators point for a downside correction. To the upside, yesterday's high around 1.4405 also a short term descendant trend line needs to be broken to gave the pair further upside momentum.