FXstreet.com (Barcelona) - The Euro is soaring on gold prices and positive stock markets on early European session, and the pair has rallied about 80 pips, breaking above 1.4405 high to reach 1.4425 so far.

On the upside, next resistance level lies at 1.4445 (Aug 3 and 5 high) and above here, 1.4480/85 (trendline resistance) and 1.4500. On the downside, s7upport levels are 1.4345/60 previous top, and below there, 1.4315/20, and below there, 1.4285/90.

According to Nicole Elliott, senior technical analyst at Mizuho Corporate Bank, the Euro might be on its way to a retest of 2009 high at 1.4448: Preparing to re-test this year's high (1.4448). The Euro is no longer overbought and momentum is bullish, and could increase on a daily close above 1.4350.

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