EUR/USD is trading back at the 1.3930/20 area, right where it started Tuesday after the pair staged a brief spike toward the 1.4000 resistance zone.
The hegemonic currency rallied over 70 pips at the beginning of the Asian session and reached the highest price in 2 days at 1.4003, however, the Euro failed once again to extend gains above that level and retreated to the current price zone.
"EURUSD is struggling in a battle between both market forces (bulls and bears) the instrument has a trading range to break. Any four hours close above (1.4007) will open the way for a little push upward to test the resistance level at (1.4087), and a four hours close below (1.3820) will let the instrument test the next support level at (1.3775)", said the 4XEagleEye Analysis Team.