FXstreet.com (Córdoba) - EUR/USD fell to 1.4905 after testing levels above 1.4950. The Euro was rejected from there and fell finding support near the 1.4900 zone. Currently trades at 1.4920/25, 0.17% above today's opening price.
On the upside resistance lies at 1.4950 and above at 1.4965 (last week highs). The pair could find support at 1.4900 and below at 1.4870 and 1.4825 (intra-day low).
Valeria Bednarik, FXstreet.com collaborator, affirms: Market remains quiet ahead of U.S. opening; pair failed to reach past week high, and remains moving in range comfortable above 1.4900. Stocks failing to extend gains and gold around Europe opening price are the main reason for these movements. Still, 20 SMA under current candle shows downside limited ahead of U.S. session, thus indicators had turned bearish over the last session. Clearly under 1.4865 zone, could trigger some more downside pressure in U.S. session.
According to the ecPulse.com analysis team: The U.S dollar index continues to show decline as fears of inflation continue to hammer down the dollar; thus preventing it from gaining against major currencies.