FXstreet.com (Barcelona) - The Euro has spiked up on early U.S. session from levels around 1.4085 support to reach 1.4120 before returning to test 1.4100 at the moment of writing.
Initial resistance area lies at 1.4160 (Aug 14 low), and above there, the pair could find resistance at 1.4210 and 1.4265/70.
On the downside, Valeria Bednarik, collaborator at FXstreet points out to 1.4085/1.4100 area: "Bearish indicators in the hourly chart suggest a downside continuation for next hours, with yesterday’s low at 1.4045 as key support zone. Price action cut 20 SMA flat, still pair sentiment turned again after U.S. worst than expected data. 1.3980 is a probable target for the pair under mentioned low. Above 1.4100, chances of further falls are limited for the rest of the day."
