Forex: EUR/USD rebounds at 1.4700, rises to 1.4750

By @ibtimes on

FXstreet.com (Córdoba) - The Euro remains strong across the board. EUR/USD rebounded at 1.4700 and is back above 1.4730. Current price at 1.4735/38 is 0.20% above the one it had at the beginning of the day. The pair is rising for the fourth consecutive day. The pair moved sideways most of the American Session.

The ecPulse.com analysis team comments: The EUR/USD pair continues to trade within the upside channel as it breached a strong resistance level at $1.4705 in order to target the main channel's resistance levels at $1.4788, whereas the pair is slightly unchanged on the daily scale but holds a strong tendency to decline as the Stochastic Oscillator indicates a severe overbought area for the pair, thus the pair might decline to the support level at $1.4680 before continuing to incline further.

EUR/GBP is rising for the fourth consecutive day accumulating an increase of more than 200 pips. The pair rose to 0.8966 posting a fresh 5-month high. At 0.9000 the pair has an important support.

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