EUR/USD fell back below 1.4200 in the American afternoon after failing for second time on Tuesday to extend gains above the 1.4210/15 zone where the pair set a 3-day high earlier. Despite the risk-on environment, the hegemonic currency was unable consolidate above 1.4200 against the Greenback, weighed down by the IMF saying that contagion risk in the euro zone is high, and dropped near 60 pips back to the 1.4150 region.
EUR/USD has been trading between 1.4150 and 1.4210 most of the New York session, unable to set a fresh direction, and currently it is quoting at 1.4160, holding onto a 0.35% gain.
If the Euro manages to break through 1.4210, next resistance could be found at the 1.4250 zone and 1.4280, while if it falls below 1.4150/45, immediate supports might be found at 1.4130 and the 1.4100/1.4090 region.
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