FXstreet.com (Barcelona) - After falling around 85 pips in the European session from 1.4840, intra-day high, the EUR/USD has found support at 2-week high at 1.4755 and, bouncing at this level, pair has begun to rises back to test 1.4800 level.
Currently the pair is trading around 1.4795/1.4805, at the same range of opening price action.
According to Valeria Bednarik, FXstreet.com collaborator, EUR/USD has the best chance, trend remains bearish: Euro remains clearly the best chance across the board. With stocks falling and gold at 1031/oz, the European currency likely to extend the downside rally, thus market will define the intraday trend after U.S. Durable Goods data. Expected to the upside around 1.2%, previous month reading has been already revised to the downside, -2.6%. A number above 1.2% could trigger some optimism across the board, sending stocks and Euro higher, as the pair has just reached the 200 EMA in the 4 hours charts, yesterday's target zone. Above 1.4790, pair could retest the 1.4835 zone. Next resistances come at 1.4880 and 1.4925, not seen at this point.