FXstreet.com (Córdoba) - The Dollar is rising across the board on Thursday. EUR/USD recently broke below 1.4900 and plunge to 1.4860, posting a fresh intra-day low. The pair is tumbling after being unable to break above 1.5015 during the Asian session and now is extending its reversal from the highs of Wednesday at 1.5050.
Currently the pair trades at 1.4865/68, 0.80% below today's opening price. On the downside the next support is located at 1.4860/50 and below at 1.4810 (Oct 5, 6 lows).
Valeria Bednarik, Fxstreet.com collaborator, affirms: Pair keeps pushing lower, approaching and rebounding slightly from the 1.4910 support zone; with indicators still bearish and with 20 SMA about to cut 55 EMA in the hourly above current price, a confirmation under mentioned lows, should trigger more downside movements, as both 1 and 4 hours indicators remain clearly bearish supporting the bias.