FXstreet.com (Barcelona) - After falling around 160 pips from intra-day high at 1.4719 to post 2-week low at 1.4560 in the early Asian session, EUR/USD has bounced at this level to trade above 1.4600 again and recover some of ground of initial losses.

Currently the pair is trading around 1.4625/35, 0.50% below today's opening price action at 1.4704.

According to the KBC Market Research Desk, EUR/USD seems to drop to 1.3832: Drop from 1.4845 (bearish Dark Cloud) retesting the broken channel off 1.3832 and currently back in the inverted channel off June low (top at 1.4716 today), with 1.4611 being tested (see graph). Support area at 1.4561/ .4554 (reaction low hourly/ daily Bollinger midline), with next levels at 1.4515/ .4502 (medium term reaction lows hourly).