FXstreet.com (Barcelona) - Euro rally from 1.4625 low on Tuesday has reached 1.4770 on early European session and the pair has stalled below that level, hovering, ever since, in a range from 1.4740 to 1.4770.
On a longer term perspective, the Euro negative term remains intact, according to Stoyan Mihaylov, technical analyst at Deltastock.com, while below 1.4850: The rebound from yesterday's low at 1.4624 is pretty strong to be considered corrective in nature, but while 1.4850 resistance is intact the overall negative bias will be sustained. Intraday bias is positive, well supported at 1.4735 with a crucial level below 1.4702.
Next resistance levels, according to Mihaylov, lie at 1.4806, 1.4860 and 1.5063. On the downside, support levels lie at 1.4735, 1.4624 and 1.4444.