The single currency rose to a fresh year's high of 1.4628 in Asian morning, however, loss of upward momentum is likely to prevent strong gain above the projected level of 1.4647 and reckon price would hold well below major daily resistance at 1.4720 and bring a much-needed minor correction later.  
  
On the downside, below 1.4502 would signal a temporary top is made and yield retracement to 1.4448 (previous daily resistance, now support).