FXstreet.com (Barcelona) - The EUR/USD consolidated gains on Friday following eight straight daily gains.

Eurozone industrial production posted the biggest drop since records began in 1986 and German producer-price inflation eased, pressuring the European Central Bank to ease its monetary stance more aggressively.

The RSI indicates that the pair is short-term overbought and some further consolidation is possible. There are resistance in the 1.37-area and more serious resistance in the 1.40-area. Strong support exists in the 1.30-area, said Hans Nilsson, analyst at CMS Forex.