FXstreet.com (London) - EUR/USD has traded flat so far this session despite moving to the downside in early trade, extending the trend of the previous session. Pair rebounded after early weakness to currently trade at 1.4363.

Investors were giving a startling reminder of Eurozone issues today as rating agencies pulled down Icelandic long-term debt down to junk bond status. This move represents the decreasing level of market confidence on the Eurozone. Pair has just bounced for intraday low 1.4333.

For primary resistance and support we take 1.4380 and 1.4330 the bounds of the current range.

Next resistance in case of a significant up move should be taken as 1.4422 (consolidation zone previous session).