FXstreet.com (Barcelona) - Euro rally from 1.45 60 low on Tuesday has been capped at 1.4715, several pips short of December 13th high at 1.4720, as the Euro eased to levels below 1.4700, trading at 1.4680 at the time of writing.

Support levels lie at 1.4640/50, and below here, 1.4625 and 1.4560 (Sept 15 low). On the upside resistance levels lie at the mentioned 1.4720 (Dec 13 high) and above there, 1.4740 and and 1.4770 (Sept 25 '08 high).

On the daily chart, Anna Couling, technical analyst at Master The Markets observes the Euro pushing higher with next targets at the 1.50 area: The reversal in the dollar's fortunes which many had been expecting has, so far, failed to materialise with the dollar index continuing its steep decline and given the technical picture for the index we should now see the euro vs dollar push higher towards an initial target of USD1.50 in the short term and possibly USD1.55 in the medium term.

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