FXstreet.com (Córdoba) - The Euro is consolidating gains against the Dollar as it holds above 1.4800. EUR/USD rose to 1.4860 (intra-day high) during the American session helped by rising stocks. The pair then pulled back to 1.4820 and currently trades at 1.4834/37, 0.77% above today's opening price.
The Euro is rising for the first time of the week. On the upside resistance lies at 1.4890 and above at 1.4925 (Oct 27 highs). To the downside, support lies at 1.4800 and below at 1.4770.
James Hyerczyk, analyst at ForexHound.com, comments: The EUR USD is in an uptrend and rallying strong today. Expectations are for a test of 1.4873 to 1.4918 before new sellers surface.