FXstreet.com (Barcelona) - The Euro's rally from 3-week low at 1.4480 reached October the 2nd has found resistance at 1.4760, highest level since September 24, in the American session. Currently the pair has slid to trade close to 1.4710, and print 0.50% daily gains from opening price action at 1.4647.

According to Valeria Bednarik, collaborator at FXstreet.com, EUR/USD seems ready for correction: The pair reached extreme conditions in the hourly and seems ready for a downside correction before another attempt to break higher. Still with risk appetite setting a bullish bias for the pair, 4 hours charts also look a bit exhausted; downside corrections could start only under 1.4680 area, 20 SMA in the hourly.

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