FXstreet.com (Barcelona) - The Euro edges to a new record high against the Dollar today, according to the ActionForex.com. Technical team, the bias is bullish: Intraday bias remains on the upside as long as 1.4373 support holds. As discussed before, current rally from 1.3360 is expected to extend to next upside target of 1.4535 cluster resistance (95 high and 200% projection of 1.3262 to 1.3851 from 1.3360 at 1.4538). On the downside, the ActionForex.com Team advances: On the downside, below 1.4373 will indicate an intraday top is in place and bring retreat to 4 hours 55 EMA (now at 1.4314). But further break of 1.4124 support is needed to indicate that a short term top is in place already and bring deeper correction to below 1.4014 support.
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