FXstreet.com (Córdoba) - The Euro continues it recovery after falling to 1.4820. EUR/USD rose back above 1.4900 to 1.4938 posting a fresh intra-day high. The pair currently trades at 1.4920/25, 0.48% above today's opening price. Immediate resistance could be located at 1.4940 and above at 1.4990.
Greenback lost previous gains and also has turned negative for the week against the Euro. EUR/USD is heading toward the second week in a row with gains, but the pair has failed to hold above 1.5000
Mohammed Isah, analyst at FXTechstraegy, comments: EUR must return back above the 1.5000 level to avert its current price weakness and bring further gains towards the 1.5082 level, its Aug 10'08 high and next its 1.5283 level, its May 04'08 low.