FXstreet.com (Barcelona) - The Euro has remained trading in range during the European session, consolidating between 1.4955 day low and 1.4985, right below fresh year to date high at 1.4995 reached during Asian session.
Resistance level at 1.5000 has become an important one, according to the Swiss e Trade Strategy Team, and profit-taking sell orders might be activated in the area: EUR / USD continues its ascent to the 1.5000 level which has become an important resistance level. We are treating long EUR / USD positions with caution because, at 1.4971 currently, we are not far from reported profit-taking sell orders located at 1.5025 to 1.5035.
The Euro trades at 1.4965 with next resistance area at 1.4990/00 (Session high) and above here, 1.5040 and 1.5085 (Aug 11 08 high). On the downside, initial support level comes art 1.4950/55 (intra-day low), and below here, 1.4885/95, and 1.4825 (Oct 19 low).