FXstreet.com (Córdoba) - The Euro is recovering further against the Dollar after falling to 1.4753, intra-day low. EUR/USD is back above 1.4800 and rose to 1.4815 after the opening bell at Wall Street. Stocks in the U.S. open lower but are moving away from the lows sending pressure to the Dollar. Currently the pair trades at 1.4807/10, at the same price it had at the begging of the day.
Valeria Bednarik, collaborator at FXstreet.com, affirms: Technically, 20 SMA is losing downside momentum while indicators are turning to the upside in the hourly, suggesting some corrective movement ahead, that needs to overcome 1.4835 resistance level, so extend. Fresh low at 1.4755, along with 200 EMA in 4 hours charts around 1.4740, are next key support area: confirmations under that level, should send the pair lower to the 1.4705 zone.