Forex: EUR/USD takes a breather below 1.3586

FXstreet.com (Córdoba) - After surging to a fresh 14-month high of 1.3586 on Wednesday, the euro lost momentum and entered in a consolidation stage versus the dollar, as investors take a breather to assess latest events - US GDP, FOMC decision - and ahead of the key nonfarm payrolls report.

EURUSD has spent the last session within 1.3540/1.3585 range, and it is currently around 1.3555/60, little changed since opening.

From a technical view, Valeria Bednarik, chief analyst at FXstreet.com, notes that as long as EURUSD stays below 1.3586, there's room for a bearish movement towards the 1.3485/1.3500 level, where buying interest should resume. "A break above this high on contrary will expose the upside up to 1.3660 today, although with US NFP data tomorrow, market players may prefer to stay quiet", she adds.