Euro rally capped at 1.4380

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FXstreet.com (Buenos Aires) - After rebounding at the 1.4280 area, pair rose exactly 100 pips and is currently retreating from the 1.4380 level, trading again under past week high of 1.4360, that acted has quite strong resistance/support level for the pair for the last 3 weeks.

Worse than expected data, after Industrial New Orders slump to -2.2% from a previous reading of 1.7% and PPI print a 0.1%, is keeping the European currency under pressure this morning, along with comments of ECB member Stark about the European Union won't come to Greece's rescue.

Resistances above today's high of 1.4380, remain at 1.4400 and 1.4455 area. Supports on the downside, lie at 1.4335/40, 1,4280 session low and 1.4255 (Jan 4 low).

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