FXstreet.com (Sydney) - The EUR/USD rose to 1.4954 after opening at1.4916. The pair may once again test levels above 1.5000 this week finding support at 1.4645 and resistance at 1.5065. Outlook for the pair is slightly bullish.

The dollar will be under pressure once again this week among calls that its declining value may affect asset prices and threaten the global economy. As reported by the SMH, China banking regulatory commission chairman Liu Mingkang is concerned that low interest rates in the US is encouraging access to cheap credit there by investors to spend in higher-yielding assets elsewhere.

Retail sales data from the US is expected today.