Fxstreet.com (Buenos Aires) - The Euro is regaining momentum against the dollar as oil continues rising harming dollar particularly against Euro and Swiss Franc. EUR/USD quotes at 1.4325 still overbought in 4 hours charts. Although unlikely, a break above today's high of 1.4375 could send the pair to the 1.4410 area that should offer some strong resistance.

To the downside, break under recent low of 1.4280 will deny further rises and put the pair under pressure, especially after ECB president Jean Claude Trichet has just stated that he's unsettled by the idea that the global economy is on the cusp of normality based only on a few encouraging signs