FXstreet.com (Córdoba) - The Euro found support at 1.4700 and regained the upside. EUR/USD tested levels on top of 1.4750 but failed to break above so far. If the pair rises further it could face resistance at 1.4780 (intra-day high) and above at 1.4820. Wall Street is turning to the upside favoring the Euro. The surprise decline in crude oil inventories offset the negative effects of the downgrade in the outlook of Spain by Standard & Poor's.

Valeria Bednarik, collaborator at FXstreet.com affirms: Pair has been in an upside corrective mode since European opening, having lost this way oversold conditions both in 1 and 4 hours charts. Capped under 1.4780, past candle long upside shadow suggest some downside movements ahead, U.S. session.

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