Forex: EUR/USD, down from 1.4910, reaches 1.4820

Thu, Nov 5 2009, 07:21 GMT
http://www.fxstreet.com

FXstereet.com (Barcelona) - Euro two-day rally was capped on Wednesday at 1.4900 resistance area after the release of the Fed's statement, and the pair has pulled down on Thursday reaching levels around 1.4820 ahead of the European session opening.

The pair trades now right at 1.4820 support level, and in case of further decline, next support levels could lie at 1.4770 and 1.4730/35. On the upside, resistance levels lie at 1.4855/60, and above here, 1.4885 and 1.4910 (Nov 4 high).

EUR/GBP decline from 0.9060 high on Nov 03 found support on Wednesday at 0.8920, and the pair appreciated afterwards, breaking above 0.8970/75 resistance area, to reach 0.9000 level at the moment of writing. Above 0.900 next resistance lie at 0.9025 and 0.9115. Support levels lie at 0.8935/45 and 0.8910.

EUR/USD

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