FXstreet.com (Barcelona) - After the last bullish movement from 1.4965 to hit fresh 2-week high at 1.5048, EUR/USD has been trading in a narrow range between 1.5030 and 1.5045 on consolidation mode.
Currently the pair is trading around 1.5030/40, 0.25% above today's opening price action at 1.4992.
The ecPulse.com analysis team comments: The euro-dollar pair showed an incline on the daily charts but declining on the 4-hour charts and 1-hour charts. The pair is moving in an overbought area as indicated by the Stochastic Oscillator on the daily charts, after breaching the strong psychological resistance at 1.5000 reaching the highest in 2 weeks at 1.4045. The pair is currently traded at 1.5031 recording a high of 1.5048 and a low of 1.4967, while the coming support is at 1.5000 and resistance at 1.5045.