FXstreet.com (Barcelona) - Euro rally from pre-payrolls levels at 1.4265 has ticked up above session high at 1.4535, and the pair has hit a fresh 5-week high at 1.4540, although the pair remains consolidating between 1.4480 and 1.4535/40 after its rally from 1.4260 low on Monday.

At the moment, the pair quotes at 1.4535/40 session high, with next resistance levels at 1.4570 (38.2% Fib retracement of the Nov-Dec decline) and 1.4590 (Dec 16 high). On the downside, support levels lie at 1.4470, and below here, 1.4445 (Jan 7 high) and 1.4400/15.

According to the Swiss e Trade Strategy Team, Euro rally has lost steam and the pair might continue consolidating before a correction to levels around 1.4440: The upmove in the EUR / USD came to a halt this European morning, meeting resistance at 1.4530 and currently trading at 1.4510. We expect the consolidation to continue before weakness could set in, leading to levels around 1.4440 in today's trading.

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