FXstreet.com (Barcelona) - After rising 115 pips during the European session from 2-week low at 1.4560, to test 55MA 55 level in hourly chart at 1.4675, EUR/USD has falling back to trade below 1.4650. Currently the pair is trading around 1.4635/45, 0.45% below today's opening price action at 1.4704.
Valeria Bednarik, FXstreet.com collaborator, comments: Pair remains under pressure, following lower stocks yet range bound; as expected on previous update, 1.4550 area seems strong enough to keep capping the downside and only clear confirmations under that level could trigger a more interesting downside corrective movement. Hourly indicators are slightly bullish, even 20 SMA yet with no clear signals at this point. Bigger time frames show the same picture; watch for technical levels and stocks, the main Euro driver today.
Bednarik provides us with her levels: Support levels: 1.4620 1.4580 1.4550. Resistance levels: 1.4680 1.4710 1.4745.