Euro seems exhausted in the hourly chart

FXstreet.com (Buenos Aires) – EUR/USD Current Price: 1.4667. Consolidating close to Monday’s highs, pair seems a bit exhausted in the hourly chart, with both momentum and RSI, pointing for a downside correction despite Nikkei 225 open up 0.7%, supporting some risk appetite, if managed to extend the upside rally. Still above 20 SMA with a bullish slope, break above yesterday’s high of 1.4686 will send the pair to test the 1.4720 zone ahead of 1.4770 next resistance level.

“To the downside, 1.4610 should keep corrective movements capped to support further rises in the next hours, “ said Valeria Bednarik, collaborator at FXstreet.com. Bigger time frames show pair is consolidating inside a small continuation triangle, so as long as 1.4655 support remains intact, figure will remain valid.

Support levels: 1.4655 1.4630 1.4600. Resistance levels: 1.4720 1.4770 1.4830.

• EUR/USD

EUR/USD (Sep 16 at 05:43 GMT)

1.4677/79 (0.10%)

H 1.4685 L 1.4655

S3	S2	S1	R1	R2	R3
1.4599	1.4636	1.4672	1.4686	1.4723	1.4760

[?]Trend Index	[?]OB/OS Index
Strongly Bullish	Neutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)