FXstreet.com (Sydney) - The EUR recovered after posting an intraday low of 1.4905 and is trading at 1.4919. The EUR has risen steadily against the dollar and the pair now finds support at 1.4877 and resistance at 1.4964. The pair is also considered slightly bullish.

The EUR may however, come under pressure by economic data from the other side of the Atlantic. In the US, jobs claims continued on its downward path while manufacturing activity grew in November to a 2-year high. Financial markets were surprised by the extent in the latter and signalled that the US recovery was gaining momentum. This meant that during the overnight session there was a return of risk aversion which benefited the dollar.