FXstreet.com (Barcelona) - The Euro jumped yesterday against the Dollar reaching the highest level in three weeks, Cornelius Luca, economist at Global Forex Trading sees the Euro on the upside: The upside is favored, but significant resistance looms at 1.5785. If 1.5785 gives way, look for a further rally to the initial pivot high at 1.5842. Of course, the big prize remains at 1.6042.
Support lines, according to Luca, stand as follows: Initial support is at 1.5745. Below 1.5660, EUR/USD has support at 1.5615. Further floors are at 1.5540, 1.5510 and 1.5470.