FXstreet.com (Córdoba) - The Euro rose against the Dollar on Monday reaching the highest level in a week. EUR/USD peaked at 1.5020 posting the highest price since October 26. The rise in stocks weakened Greenback that lost almost 400 pips since last Monday when it traded at the highest level in 4-weeks against the Euro. The pair currently is hovering around 1.5000.
On the upside resistance lies at 1.5020 (Nov 9 high) and above at 1.5060 (15-month high). To the downside, support could be located at 1.4925/15 and below at 1.4860.
Michael J. Malpede, analyst at Easy Forex comments: The technical outlook for the EUR is positive as the EUR trades above 1.5000. Expect EUR support at 1.4851 the November 9th low with resistance at 1.5065 the October 23rd high.