FXstreet.com (Barcelona) - The Euro would stabilize during the rest of the current week, says, Axel Rudolph, technical analyst at Commerzbank, after suffering on heavy selling pressure on Dollar strength Tuesday, which took Euro-Dollar down to a fresh 10-week low.

The Euro Dollar should consolidate above key 1.4450/47 support area, says Rudolph: EUR/USD nears the 1.4480 October low and 1.4450/47 zone (August high and 50% Fibonacci retracement) where it should find

intermittent support.

Regarding the EUR/GBP, Rudolph expects the European currency to hold above 0.8942/05 area: A drop to the uptrend line at .8942 occurred on Tuesday. This together with the 50% Fibonacci retracement at .8907 we expect to hold and to be the launch platform for another rally.

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