FXstreet.com (Barcelona) - The Euro resumed its uptrend after ma weak reading of the US new home sales, according to the ActionForex.com team: EUR/USD's rise from 1.4365 resumes in US session, taking out last week's high of 1.4778 after being supported by 4 hours 55 EMA. Break of 1.4778 indicates that such rally is still in progress for 1.4921 resistance, with prospect of retesting 1.4966 record high and 1.5 psychological resistance. On the downside, the ActionForex.com team forecasts: On the downside, however, below 1.4658 will turn short term outlook neutral again and bring pull back. But further rally is still in favor as long as downside is contained above 1.4508 support.
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