FXstreet.com (Córdoba) - The Dollar is rising sharply across the board. EUR/USD broke below 1.4260 and tumbled to 1.4215, reaching the lowest price since September 4. The pair currently trades at 1.4220/25, 0.41% below today's opening price. The Euro is falling for the sixth consecutive day, accumulating a decline of 430 pips.
On the downside, support levels lie at 1.4210/20 (intra-day low) and below at 1.4185 (Sept 4 low). On the upside, resistance levels lie at 1.4265/70 and above at 1.4315 and 1.4330/40 (session high).
Valeria Bednarik, collaborator at FXstreet.com, affirms: Dollar strength will extend supported by sentiment, despite currency being technically overbought against major rivals. Thin volume seems to be exacerbating only trend favorable movements, so is not the best time for attempting counter trend trades hoping for a correction. Pullbacks and entering with the trend, remains in favor these days.