FXstreet.com (Barcelona) - Euro rally from 1.4885 low on Tuesday has reached a fresh 15 month high during European session., and the pair starts to show signs of exhaustion and according to Valeria Bednarik, collaborator at FXstreet.com could be prone to a downward correction.
At the moment, the pair trades right at 1.5050 testing previous year high, which, according to Bednarik is a level to observe: Pair is showing signs of exhaustion in the hourly chart, and ready to trigger some downside correction, if manages to confirm under 1.5060, previous yearly high. Still bias remains strongly bearish and price behavior attached to gold.
Support levels, according to Bednarik, lie at 1.5060, 1.5020 and 1.4980. On the upside, resistance levels are 1.5100, 1.5150 and 1.5185.