FXstreet.com (Córdoba) - The Euro is extending its gains against the Dollar. EUR/USD jumped above to 1.4806 after the opening bell at Wall Street posting a fresh intra-day high. Stocks in the U.S. open in the positive side favoring the Euro. The pair is hovering around 1.4800 and trades 0.55% above today's opening price.
At 1.4850/60 the pair has a key level since the mention price has worked has a strong resistance the last week. A break above could send the pair higher.
Valeria Bednarik, collaborator at FXstreet.com affirms: Pair regained the upside, still capped under 1.4770 resistance zone. Hourly indicators look slightly bearish at this point, yet pair needs to clearly break under 1.4730, 20 SMA with a strong bullish slope, to gain some downside momentum. Above current high, pair could attempt a retest of the 1.4810 area, ahead of stronger 1.4850 zone. 4 hours charts, also support the bias.