FXstreet.com (Barcelona) - The EUR/USD is currently trading sideways, having consolidated above the 1.3995 level of support for the past three hours of early European trading.

The current calm for the pair arrives after the dollar rallied strong against the common currency early in Asian trading to set a low not seen since July 2009 at 1.3922. This record drop was then followed by a recovery swing by the euro to push upwards during the rest of the session to hit a daily high of 1.4052 before falling to its present level.