FXstreet.com (Sydney) - The EUR/USD gained ground to trade at 1.4880. This represents an improvement of 1.05% for the week and to levels not seen since October 26th. In all, the pair has gained 0.56% for the month and may be on another upward cycle. The pair now finds support at 1.4680 and resistance at 1.4930. Analysts however, remain divided on the strength of the Euro, given the recent weakness in the dollar.

Further fluctuations on the currency are dependant on major economic data coming out of Europe this week. This includes, German Trade Balance and Industrial production and the Sentix Investor Confidence survey on sentiment toward European economies.