FXstreet.com (Barcelona) - The Euro has dipped against the Dollar as durable goods orders posted the largest increase in 2 years, and the pair dipped to levels some pips above intra-week low at 1.4250, although the mentioned support has proved strong enough and the pair returned to 1.4280, previous day low.

According to Peter Rosentreich, technical analyst at ACM - Advanced Currency Markets, the Euro is on the upside, as long as 1.4250 level remains intact: There remains an upward bias on the pair trend wise as all time frames are trending up but 1.4445 has behaved like a brick wall in the past so expect the range bound trading to continue and a possible test of the 1.4445 major resistance. A break of 1.4250 to the downside will likely lead to a short term downtrend.

Support levels are 1.4250 (Aug 25 low) and 1.4200 (Aug 20 low), below here next support could be located at 1.4170. Resistance levels are 1.4280, and above here, 1.4310 and 1.4360 (Aug 25 high).

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