FXstreet.com (Barcelona) - The Euro has continued rising against the Dollar in the European session and after consolidating between 1.4410 and 1.4435, pair has broken up and it has reached 1.4445 as fresh 1-week high level.

Currently the pair is trading around 1.4435/45, 0.45% above today's opening price action at 1.4380.

The Varengold Bank Research Team affirms: During December the currency pair has been trading close to a bearish trend line and fell below the 1.4430 level. This level points a new resistance-line which repulsed the EUR now for the third time. Now it seems that the bears take control again and pulls the EUR/USD down, close to the second Fibonacci Fan. Also the declining MA Oscillator indicates a continuing downward-trend.