FXstreet.com (Córdoba) - The Euro is holding above 1.4800 so far during the American session against Greenback. EUR/USD is recovering after falling to 1.4754 reaching the lowest price in a month. The pair found resistance at 1.4840 and pulled back to 1.4810. Currently trades at 1.4820/25, 0.23% below today's opening price.
On the upside the Euro could find resistance at 1.4840/50 and above at 1.4900/10 and 1.4965/80. On the downside, below 1.4755, next support levels lie at 1.4730/40 and below here, 1.4700 (Nov 4 low) and 1.4680 (Nov 2 low).
The Wells Fargo Research Team comments: The increased scrutiny of Federal Reserve policy could explain the concurrent gain in the dollar and dip in equity market. In any event, our view remains that the greenback remains close to a medium-term low, and we expect dollar gains against the G10 currencies in 2010.
Federal Reserve's chairman Ben Bernanke will be speaking at the Washington Economic Club in a few minutes.