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FXstreet.com (Córdoba) - The pullback of the Euro against the Dollar found support at the 1.3770 zone, where the pair recently rebounded climbing back toward the 1.3800 area, helped by a recovery in US stocks. However, EUR/USD lacked momentum to regain the 1.3800 mark and retreated slightly to currently quote around 1.3790, still up 0.3% on the day.

EUR/USD had hit a 2-day high of 1.3870 early NY session in the wake of positive US data and amid hopes about a comprehensive plan to tackle the euro zone debt crisis, but pulled back as optimism faded.

"Trading remains dominate by random headlines making thing very difficult", said Peter A Rosenstreich, analyst at Swissquote Bank SA. "After two days of choppy whipsaw action the pair is now in a consolidation pattern".

"Initial resistance stands at 1.3878 (short term bearish trend), 1.3914/37 (15th Sept & 17th Oct high), then not much till 1.4278 (6th Sept reaction high), said the analyst. "Key support is located at 1.3683 (13th Oct low), 1.3653 (18th Oct Low), 1.3566 (11th Oct low), 1.3525 (7th Oct high) then 1.3346 (10th Oct low)".

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