FXstreet.com (Barcelona) - The Euro has found support at 1.4990 against the Dollar after falling 60 pips from 1.5050 in the early American session with the pair rising back to trade above 1.5000 level, close to 1.5050. Currently the pair is trading around 1.5020/30, at the same range of opening price action.
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.