FXstreet.com (Barcelona) - Euro bounce at 1.4190 low on Friday has extended above 1.4300 during Asian session to reach 1.4360 high at European markets opening time. At the moment of writing, the Euro is struggling at the 1.4350 resistance area.
Abocve 1.4350 (Sept 3 high), next resistance levels lie at Sept 1 high) and 1.4405 (Aug 27 high). On the downside, initial support lies at 1.4285, and below there, 1.4230 and 1.4275/90 (Sept 1 and 2 lows).
According to Nicole Elliott, senior technical analyst at Mizuho Corporate Bank, the Euro could test to break higher on Monday: The Euro is no longer overbought and momentum is bullish, and with a little luck the step up in the top of the Ichimoku 'cloud' might lead to a test and break higher.