FXstreet.com (Barcelona) - The Euro has gathered strength moments ahead of the U.S. markets opening, to break above 1.4675 session high and reach levels right above 1.4600 resistance area.
In case of confirmation above 1.4575, next resistance levels lie at 1.4600/10 and 1.4635 (Sept 11 high). On the downside, support levels lie at 1.4500 (Sept 10 low), and below here, 1.4465 (Sept 9 low) and 1.4415.
On a wider perspective, Mohammed Isah, technical analyst at FXTechstrategy, sees the Euro poised for further appreciation: Having broken above its strong resistance at the 1.4446 level to resume its medium term uptrend activated of the 1.2456 level, its Mar'09 low, EUR is now poised to head further higher. With that said, we now expect the pair to target its significant overhead resistance standing at the 1.4719 level, its Dec 18'08 high with a clean violation of there putting the pair on the path to further upside gains towards the 1.4875 level.