FXstreet.com (Barcelona) - The Euro rose from intra-day low at 1.4280 to 1.4350 high on the back of better than expected German business climate index, although the pair dropped back later to levels right above 1.4310 trading volume is very low, and the pair looks neutral, although according to Stoyan Mihaylov, technical analyst at www.deltastock.com, there are bullish signals in 2 and 4 hour charts.
Mihaylov affirms that a bullish setup has formed, target5ing 1.4444: After yesterday's break above 1.4310, the pair is back in ranging mode between 1.4350 and 1.4209. Although the intraday bias is neutral, on the 2 and 4 h. charts a bullish set-up is being formed, targeting 1.4444.
Resistance levels lie at 1.4360 (Aug 25 high), and above here, 1.4380, Aug 21 high, and 1.4395/00. On the downside, support levels are 1.4280 intra.day low, and below there, 1.4250 (Aug 25 low) and 1.4200 (Aug 20 low).