FXstreet.com (Córdoba) - The Dollar is consolidating gains against the Euro. EUR/USD recovery found resistance at 1.4875 and pulled back to 1.4835. Currently the pair trades at 1.4840/45, 0.57% below today's opening price. The pair is falling for the second day in a row and is heading toward a moderate weekly loss. Greenback's rally, at the moment, was not enough to break below the key support at 1.4800/10.
Michael J. Malpede, analyst at Easy Forex comments: EUR traded lower pressured by the weaker equity markets, a statement from ECB President Trichet that it's too early to declare the crisis over and in reaction to weaker German producer prices. Trichet's comments contributed
to diminishing risk appetite and demands for riskier assets.