FXstreet.com (Barcelona) - The dollar has gained 30 pips respect to the euro during the past hour of trading as the American session gets under way, and the EUR/USD is currently approaching the 1.4050 support area.

This quick drop comes after the pair started the day by setting a low not seen since July 2009 at 1.4021 before recovering to touch a daily high of 1.4087.

The 1.4050 area provided support during yesterday's session as well as on January 21 and on various occasions during the summer of 2009.