Fxstreet.com (Sydney) - The EUR/USD rallied from yesterday's close of 1.4710 breaking through briefly to 1.48 settling to mid-1.47s. It is difficult to see how the dollar can break through resistance at 1.49 while there are weekly supports at around 1.42. Hourly trend is sideways.

There may be threats toward mid 1.48 levels as USD reduces correction downwards.