FXstreet.com (Córdoba) - The Dollar recovered strength across the board in the last minutes and is rising sharply. EUR/USD is plunging after finding resistance at 1.4570. The pair fell to 1.4510 reaching a fresh 10-week low. Currently it trades at 1.4520/24, 0.91% below today's opening price. The Euro is accumulating a decline of more than 500 pips since the beginning of December.
The FastBrokers Research Team affirms: EUR/USD is experiencing a discouraging setback today by dropping below our previous 1st tier uptrend line. What is now our 2nd tier runs through 8/17 lows, meaning a more protracted decline towards 1.40 could be in the works should the EUR/USD not make a concerted effort to regain lost ground today. Meanwhile, the psychological 1.45 are could prove to be a reliable support with October lows hanging nearby.