FXstreet.com (Sydney) - The EUR began the week on the up and is now trading at 1.4889. The pair had earlier opened at 1.4854 posting an intraday high of 1.4900. The EUR/USD finds support at 1.4842, resistance at 1.4952 and is considered slightly bullish.

As reported in Forex Crunch, the EUR/USD had been trading between 1.4800 and 1.5050 for over two weeks. And while ranges don't last forever, the timing of the breakout is difficult to predict. However, there is a long term upward trend.

There are economic reports of relevance coming out of Europe this week that could influence the pair. Jean-Claude Trichet speaks in Madrid today and later this week French consumer spending is released as well as final German GDP.