FXstreet.com (Córdoba) - The Euro is falling for the third consecutive day against Greenback, accumulating a decline of 300 pips. EUR/USD fell to 1.4725, reaching the lowest price since November 4. From there the pair rebounded and rose to 1.4775. Currently trades at 1.4760/65, 0.38% below today's opening price.
Next support, comes at the 1.4690/4700 area, congestion zone formed by several daily lows from past November; next in line, comes at the 1.4620 level, 61.8% retracement of the monthly fall 1.6038/1.2330, also past November monthly low.
The ecPulse.com analysis team affirms: The euro versus dollar stabilized below the broken support areas of 1.4905, where it fluctuated in a way that freed it from the stochastic's positive signs that had appeared on after a chain of bearish movements. The chain of closings below the mentioned support and awaited negative signs from the stochastic; make us expect a bearish intraday direction for today that targets main support 1.4740 once again, and requires 1.4905 to remain intact and come in below it in the four hour closing.