FXstret.com (Barcelona) - Euro rally from 1.5030 low on Wednesday extended on early European session above 1.5100, although the pair has been halted at 1.5115/20 resistance area and eased to levels around 1.5105 at the moment of writing.

The Euro is in a bullish move which according to Nicole Elliott would bring the pair to a new year high either this week or the next: It is not overbought though trading very close to the all-time high on the ECB's effective exchange rate. If not this week then this month we favour a break to a new high for this year, accentuated by thin markets.

Resistance levels, according to Elliott, lie at 1.5118, 1.5145 and 1.5200. On the downside, support levels remain at 1.5042, 1.4985 and 1.4965.

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