FXstreet.com (Barcelona) - The Euro has extended its recovery from 1.4810 low to levels right above 1.4900, reaching an intra-day high at 1.4915 as Jean Claude Trichet, ECB's president gives his first press release after the ECB' monetary policy decision.

Trichet affirmed that surplus of liquidity will be absorbed in a timely manner as he observed that economic activity has improved since the last meeting although he warned about uncertainty remaining at very high levels.

At the moment, the Euro lies at 1.4890 with next resistance level at 1.4910 and in case of confirming above here, 1.4925 (Oct 27 high) and 1.4975. Support levels lie at 1.4855/60, and below here, 1.4810 session low and 1.4775.

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