Xstreet.com (Barcelona) - The Euro has remained trading within a narrow band between 1.4640 and 1.4670 during the European trading session so far, after its pullback from 11-month high at 1.4767 hit on September 17.

From a wider point of view, the Euro outlook remains on the upside, according to Mohammed Isah, technical analyst at FXTechstrategy, and pointing towards 1.4719 resistance: With continued upside gains seen the past week following its recent trigger of its medium term uptrend, outlook for higher upside gains remains towards its strong resistance at the 1.4719 level, its Dec 18'08 high.

On the downside, Isah points out to 1.4635 level: On the downside, further corrective pullback if seen will trigger declines towards the 1.4634 level, its Sept 11'09 high at first with a break and hold below there creating scope for further pressure towards the 1.4446 level, its Aug 09 high. This level is of significance in the pair's current run to the upside, as it is expected to reverse roles and provide support.

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