FXstreet.com (Barcelona) - The Euro is rising quickly against the Dollar in the last hour after trading close to MA100 hourly chart at 1.4365. EUR/USD has climbed 80 pips from 1.4360 to reach intra-day high at 1.4440. Currently the pair is trading around 1.4415/25,
Euro's advance could be due to oversold conditions on last 2009 session day and Dollar consolidation after last bullish movements.
Tomas Cedavicius, analyst at Investija.com, comments: EURUSD, it looks like bulls have gathered all their strength and looking forward for a breakout of resistance level. Above this barrier, bulls have more chances to recover the price. For now waiting action remains in order to confirm a possible breakout.