FXstreet.com (Barcelona) - Euro recovery from 1.4680 support area, tested during Asian session, has capped at 1.4790, and the Euro has eased to move around 1.4770 one hour ahead of Wall Street opening.

According to James Hyerczyk, technical analyst at ForexHound.com, remaining above 1.4770 will mean that the Euro has gained strength: EUR USD is holding above a technical retracement level at 1.4703. Regaining 1.4771 will be a sign of strength. The current chart formation suggests a possible rally to 1.4873 to 1.4918.

Resistance levels, at this point, 1.4790/00 intra-day high, and above here, 1.4840/50 (Oct 28,29 and 30 high) and then 1.4925 (Oct 27 high). On the downside, support levels lie at 1.4700 (intra-day low), and below here, 1.4685 (Oct 29 low) and 1.4670 (Oct 9 low).

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