FXstreet.com (Barcelona) - The Euro is losing its previous gains against the Dollar following the Wall Street decline in the last hour. EUR/USD has fallen 75 pips from 1.4830 to trade below 1.4800 and test 1.4750 level. Currently, the pair is trading around 1.4760/70, yet 0.35% above today's opening price at 1.4715.
DJIA has eased its previous gains and its index has collapsed from the 9,850 level to test last week lows at 9,680. Currently the Dow Jones is 0.10% above today's opening price action, S&P is flat and Nasdaq falls 0.25% so far today.
Valeria Bednarik, FXstreet.com collaborator, comments: Pair failed several times to break the 61.8% of the last daily rally around 1.4700, suggesting a corrective movement before next up movement. However, the upside also remains limited by the 1.4840 area, 38.2% of the same rally, while 20 SMA in the daily comes to offer resistance at the same exact zone. Daily close above this area, will support the upside bias, while as long as between levels, there are no clear perspectives for the pair.