Back above 61.8% retracement around 1.4700, pair turned slightly bullish in the hourly chart, yet indicators seem to have lost upside momentum while 20 SMA remains strongly bearish despite under current price. Bigger time frames show same conditions with pair slightly bullish yet with no enough strength, suggesting we need to see a strong acceleration above 1.4740 area to confirm an upside continuation. Next resistances for next hours come at 1.4770 and 1.4810, ahead of stronger 1.4850 area. However, market likely to remain in range ahead of key bank events starting with FOMC meeting next American session.
Support levels: 1.4705 1.5680 1.4630
Resistance levels: 1.4740 1.4770 1.4810
( FXstreet.com Independent Analyst Team )
FX-underground
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