FXstreet.com (Barcelona) - The Euro is building up on early European session and after having bounced at 1.4825 during Asian session, the Euro has boosted through 1.4900 to hit a session high at 1.4933 and is struggling at the moment with 1.4920 resistance.

In case of breaking above 1.4920, next resistance levels lie at 1.4965 (Oct 15 and 16 high) and 1.4980 (Aug 13 08 high). On the downside, support levels lie at 1.4840/45 area (Oct 14,15 and 16 area), and below here, 1.4790/00 and 1.4755 (Oct 13 low).

In a longer perspective, Karen Jone, technical analyst at Commerzbank se4es the Euro targeting levels above 1.5200: Near term the market will remain immediately bid above the 20 day ma - this is located at 1.4734. We target 1.5225/the long term Fibonacci retracement. Only below the 20 day ma would indicate a near term corrective dip lower towards 1.4494/50.

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