FXstreet.com (Barcelona) - The Euro's decline against the Dollar from 1.5050 in the European morning has continued during the American session to break MA55 hourly at 1.5000 and test daily lows at 1.4990.
Currently the pair is trading around 1.5005/15, 1.60% below today's opening price action at 1.6615. On the downside, support levels at 1.4990/00 (session low/ oct 20 high), and below here 1.4975 and 1.4940 (Oct 22low). Resistance area, at the moment, lies at 1.5060 (session high), and above here, 1.5085 (Aug 11 08 high) and 1.5100.
Valeria Bednarik, FXstreet.com collaborator, comments: Euro continues consolidating above 1.5000, after printing another intra year high during Asian session at 1.5060, first static resistance to consider from current level. Hourly indicators are slightly bearish at this point, suggesting some downside movements ahead, thus seem quite limited at this point. Bigger time frames remain clearly bullish with 20 SMA guiding the pair. Clear confirmations under 1.4960 must be seen to call for a stronger downside movement today.
Bednarik provides us with her levels: Support levels: 1.5000 1.4960 1.4925. Resistance levels: 1.5060 1.5085 1.5120.