FXstreet.com (Córdoba) - The Euro weakened further against the Dollar and fell to 1.4286, only a few pips above intra-day low that lie at 1.4279. The recovery of the Euro found resistance at 1.4330 and regained the downside. EUR/USD currently trades at 1.4292/96, 0.24% below today's opening price. To the downside, below 1.4280 the next support could be located at 1.4260 (Dec 18 low).
James Hyerczyk, analyst at ForexHound.com, comments: This morning's recovery in the U.S. Dollar could be a sign that risk sentiment may not be the driving force behind price action much longer. Investors may begin to use positive economic reports as a reason to buy the Dollar rather than higher yielding assets. The EUR USD is trading weaker at the mid-session. The improving U.S. economy and lingering debt issues in Greece, Portugal and Spain are likely to continue to pressure the Euro. Longer-term charts indicate a move to 1.3800 is likely.