FXstreet.com (Barcelona) - After collapsing from 1.4900 to bounce at 1.4755, EUR/USD has found resistance at 1.4830 in the last hour with the pair retreating to trade below 1.4800 again, close to 1.4780. Currently the pair is trading around 1.4775/85, 0.50% below today's opening price action.
On the upside the Euro could find resistance at 1.4830 again, and above here, at 1.4900/10 and 1.4965/80. On the downside, below 1.4755, next support levels lie at 1.4730/40, and below here, 1.4700 (Nov 4 low) and 1.4680 (Nov 2 low).
George Clement, Analyst at Swiss e Trade, comments: With the market almost cleared now of selling stops, we do not see more downside risk for the pair, currently trading at 1.4825 after lows near 1.4750 this European morning. Recovery moves for today are in the cards, to a maximum of around 1.4900.