FXstreet.com (Barcelona) - The Euro has reached a new all time high against the Dollar. Cornelius Luca, economist at Global Forex Trading affirms that the European currency has entered into overbought territory: It is very overbought but hold on to long positions and sell it only on a confirmation. Resistance and support levels, according to Luca, stand as follows: Strong resistance is now seen at 1.4505. Above it, strong resistance is seen only at 1.4580. Distant resistance is at 1.4665. Immediate support is at 1.4440. This is followed by 1.4380 and 1.4320. Below 1.4280, euro/dollar still has support at 1.4210.
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