EUR/USD Current Price: 1.5001

on November 09 2009 6:43 PM

FXstreet.com (Buenos Aires) - EUR/USD Current Price: 1.5001. Consolidating around daily high, Euro remains well bid on DJIA yearly high and gold prices above $ 1100/oz. Hourly charts show pair consolidating in a tight range between 1.4980/1.5020, with a strongly bullish 20 SMA, suggesting more upside to come if local shares replicates Wall Street gains.

4 hours charts show a continuation formation, a symmetrical triangle, thus indicators lost upside momentum and pair remains close to overbought levels; expect an acceleration above 1.5020 to confirm further upside rallies, said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.4980 1.4940 1.4900. Resistance levels: 1.5020 1.5065 1.5110.

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