FXstreet.com (Barcelona) - After falling around 65 pips from 1.4585 in the early European session, EUR/USD has found support at 1.4518, fresh intra-day low, to begun to rise 45 pips to trade above 1.4550 level.

Currently the pair is trading around 1.4550/60, 0.05% below today's opening price action.

The Swiss e Trade strategy team comments: In another rally the pair again broke the 1.4550 level in late Asian trading, now in early European hours consolidating around this level, currently trading at 1.4560. Although heavily overbought now, we expect another up leg, perhaps after a slight downward correction to 1.4520.