FXstreet.com (Barcelona) - Euro rejection from 1.5000 area has extended more than 1.50 pips lower as the pair declined below 1.4850 area, hitting a fresh session low at at 1.4835, well within oversold territory, and 0.92% below its day opening price.
Current decline could still be seen as corrective, according to Valeria Bednarik, collaborator at FXstreet.com, as long as the pair holds above 1.4800/10: Momentum points for further falls, while RSI approaches to oversold levels, still pair has room to fall under today's low zone, 1.4850 and first support zone to consider. Under 20 SMA (red) and 200 EMA (violet), as long as above 1.4800/10 current movement could be understood as just corrective.
Support levels, according to Bednarik, lie at 1.4850, 1.4810 and 1.4740. On the upside, resistance levels are 1.4910, 1.4940 and 1.4990.