FXstreet.com (Barcelona) - Euro is trading against the Dollar in consolidation mode after the weekly bullish movement which take the pair from 1.4190, September 4 low level to trade above 1.4600 and post 1.4626 as new 2009 highest level.
Pair has been trading in a range between 1.4580 and 1.4620 during the European session and currently it is reaching 0.20% daily gains from opening price action at 1.4574 to the current 1.4610, fighting to break up the range and trigger upside momentum.
Valeria Bednarik, FXstreet.com collaborator, comments: Consolidating in a tight range between 1.4580/1.4620, hourly charts seem quite flat yet slightly bearish at this point, as well as 4 hour ones despite market sentiment is keeping euro well bid. Volume remains low in Europe, with market players waiting for Wall Street opening. Break above today's high at 1.4620 could trigger some upside momentum in the pair, as market is expecting the pair to reach 1.4720, past December high zone; that's the key level to watch as a weekly close above that zone, will confirm an upside continuation in the midterm.
Bednarik provide us with her levels: Support levels: 1.4580 1.4550 1.4520. Resistance levels: 1.4620 1.4660 1.4720.