FXstreet.com (CÃ³rdoba) - The Dollar's recovery against the Euro, after falling sharply following the opening bell at Wall Street, found support at 1.4315. EUR/USD rebounded there and rose to current levels above 1.4330. The pair is 0.20% above today's opening price. The next resistance lies at intra-day high at 1.4366 and above at 1.4375 and 1.4405.
Against Cable, the Euro is fighting to hold above 0.8800. EUR/GPB current is rising again on Monday but is still far from last week highs at 0.8838.
Anna Coulling, analyst at Master and Master, affirms: before we assume that this rally will simply continue unimpeded, we are now entering a deep level of congestion which could provide a significant and impenetrable barrier to further progress higher. In simple terms for the move to continue we now need to see a strong move to breach this resistance, and break out to the top side, which would then provide a solid platform for a continuation from the 0.9100 region and beyond. However should the move run into problems, then we may see a correction and pullback as a result.