FXstreet.com (Barcelona) - Euro strength seen during Asian session is extending at European session opening, the Euro bounced at 1.4850 on early Asian session and has reached 1.4980 high at European opening times, reaching right below 1.500 psychological level.

According to Mohammed Isah, technical analyst at FXTechstrategy, the Euro looks on its way to levels past 1.5000: EUR's present shaky hold above the 1.4844 level must be solidified to validate our upside scenario and bring further gains towards its psycho level at 1.5000 ahead of its YTD high at 1.5062.

On the downside, Isah points out to 1.4844 level: However, should EUR fail to hold above the 1.4844 level , downside weakness could develop towards the 1.4670 level where its MT rising trendline is currently residing. We envisage a cap at this level to be seen thereby pushing the pair back up.