FXstreet.com (Córdoba) - The Euro is back above 1.4640 against the Dollar and is heading toward the next resistance that lies at intra-day high at 1.4655; the next one is located at 1.4670/80 (Sept 29 highs). Currently EUR/USD trades at 1.4644/48, 0.37% above today's opening price. The Dollar was rejected from levels below 1.4600 and started to fell after the opening bell at Wall Street.
Valeria Bednarik, FXstreet.com collaborator, comments: Hourly charts show pair failed to break above daily descendant trend line coming from 1.4842 high, with indicators giving selling signals, the downside seems capped by 1.4580 support zone, while current price attempts to break 20 SMA in the 4 hours charts, supporting more downside pressure. U.S. stocks in negative territory, also support the bias.