FXstreet.com (Barcelona) - The Euro has continued trading higher against the Dollar in the last hour with the pair jumping from 1.4760 to break MA55 hourly at 1.4780 and hit intra-day high at 1.4795. Currently the pair is trading around 1.4770/80, 0.40% above today's opening price action at 1.4715.
TJ Marta, analyst at The Overnight Express, comments: Stabilizing after retreat from 1.50. After a downdraft during the early part of last week, EUR/USD is holding above 1.47. The uptrend in place since Mar remains in place. Support lies at Resistance lies at 1.4683 (Oct 29 low), 1.4578 (uptrend off lows since Mar), and 1.45 (psychological). Resistance lies at 1.4859 (Oct 29 high), 1.50 (psychological) and 1.5063 (Oct 26 high). The short-term correlates for EUR/USD are crude oil and the S&P500 (both positive).