Forex: EUR/USD fails to hold above 1.4900, falls to 1.4870

Thu, Nov 5 2009, 14:32 GMT
http://www.fxstreet.com

FXstreet.com (Córdoba) – The Euro rose to 1.4918 posting a fresh one-week high against the Dollar, but failed to hold above 1.4900. EUR/USD pulled down to 1.4870. Currently it trades at 1.4880/85, 0.13% above today’s opening price. The decision of the ECB boosted the Euro but the pair needs to consolidate above 1.4900 to maintain an upside bias for the rest of the day.

The ecPulse.com analysis team affirms: “The euro versus dollar pair managed to build its base on the support level mentioned this morning at 1.4815 and head to the upside, according to expectations. We maintain our morning expectations, where we await an expected bullish trend for the remainder of trades today. (…) The trading range for today is among the key support at 1.4600 and the key resistance at 1.5065.”

EUR/USD

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