FXstreet.com (Baercelona) - Euro rally from 1.4820 has been capped at 1.4900, and the Euro has dropped lower, reaching intra-day low levels at 1.4825, right above 1.48200 low on Thursday.
Valeria Bednarik, collaborator at FXstreet.com focuses on 1.4810 as a key level for bears. Pushing lower after worst than expected U.S. data, and following slightly bearish U.S. indexes and gold, pair has lost upside momentum both in 1 and 4 hours charts, as indicators are turning lower; clearly under 20 SMA in 4 hours charts, and crossing 1 hour one, a confirmation under 1.4810 supported by risk aversion sentiment likely to favor the downside in the pair.
Support levels, according to Bednarik lie at 1.4810 and 1.4770. On the upside, resistance levels are 1.4880 and 1.4920.