Eur/Usd has made strong gains during the Asian session as the Dollar continues to slide. The Dollar made a comeback yesterday but was short lived as the pair bounced off of the 1.4600 resistance level and continued to rise again. Now the current resistance level is the trend wall that is shown on the 4hr chart and the most recent high of 1.4767. Watch those levels closely for stalling and for the pair to bounce off of them and move back down. If the pair rises past those levels look for a profit target of 1.4850 as the next resistance area lies there.
If the pair makes a move to the downside and the Dollar begins to gain strength look for the most recent support area around 1.4600 or watch for a Fibonacci retracement area support at the .382 level area around 1.4552. This level is shown on the 4hr chart that is shown here.
