FXstreet.com (Barcelona) - Euro rally from 1.4750 low on Wednesday has extended to 1.4785 high on early European session, and the pair has remained trading right below there ahead of BoE and ECB monetary policy decisions.

Next resistance levels lie at 1.4805 (Sept 24 high) and 1.4840 (Sept 23 high). On the downside, below 1.4770, next support levels lie at 1.4735 (Oct 7 high), 1.4685 (intra-day low) and 1.4650 (Oct 6 /7 lows).

According to the Swiss e Trade Strategy Team, upside trend could lead to a test of 1.4845 today or tomorrow: The Euro is currently priced at 1.4766, up from 1.4685 at the European close yesterday. A test of recent highs at 1.4845 is possible today or tomorrow. The 1.4845 level is also important because it is a double top on daily charts.