FXstreet.com (Barcelona) - After trading in a narrow range between 1.4370 and 1.4395, the Euro has risen against the Dollar to break range and hit 1.4400 as fresh intra-day high. Currently the pair is pricing around 1.4390/1.4400, reaching 0.5% daily gains from opening price action at 1.4390.
Peter Rosenstreich, analyst at ACM, affirms: For another very light data calendar we are anticipating continued choppy trading in thin liquidity. Clear trading above 1.4350 will put the focus on1.4515 now acting as decent resistance. Any break above there would face a major hurdle rallying higher at 1.4685.First downside support is at 1.4350 5dma then the psychological & 200dma barrier at 1.4200-08 should provide near term support.