FXstreet.com (Barcelona) - The Euro has continued rising against the Dollar during the European session after supporting at MA100 hourly chart level at 1.4700/10 zone. EUR/USD has risen around 80 pips from intra-day low at 1.4700 to breaks MA55 hourly chart at 1.4730 and trade close to 1.4775.
Currently the pair is trading around 1.4760/70, 0.15% below today's opening price action at 1.4790.
The ecPulse.com analysis team comments: The euro-dollar pair declined on a daily basis, while it is consolidating on intraday 4-hour and 1-hour basis. The euro touched it highest in two weeks versus the dollar yesterday; however, today the dollar pared some of its losses. The ECB left the benchmark interest rate unchanged and announced that a strong dollar is better for the U.S. and the euro zone. Stochastic Oscillator is showing a bearish sign, which indicates that the euro may drop further against the dollar. The European single currency is currently trading at 1.4727 recording a high of 1.4795 and low of 1.4702, where the pair is supported by 1.4715 and faces the coming resistance of 1.4735.