FXstreet.com (Barcelona) - The Euro's advance against the Dollar from intra-day low at 1.4840 at the early Asian session has found resistance at 1.4920, new highest level since August 14th 2008, and EUR/USD has begun to falls to trade below 1.4900 and to test 1.4870 support level.
On the downside, support levels lie at 1.4840 (Session low), and below here, 1.4790/00 and 1.4755 (Oct 13 low). In case of appreciation, the pair could find resistance at 1.4920/30, and 1.4980 (Aug 13 08 high).
Currently the pair is trading around 1.4875/85, 0.20% above today's opening price action at 1.4852.
TJ Marta, analyst at The Overnight Express, comments: Another new high. EUR/USD (1.4896) is up again overnight and reached a new high since Aug '08. Resistance lies at 1.4913 (Oct 14 high), 1.50 (psychological) and 1.5083 (Aug 11 '08 high). Support lies at 1.4742 (uptrend off Oct low), 1.4481 (Oct 2 low) and 1.4447 (Aug high). The short-term correlates for EUR/USD are crude oil (positive) and, to a less extent, the S&P 500 (positive).