FXstreet.com (Barcelona) - German factory orders have increased 3.5% month on month in July, better than the 2.0% monthly advance expected, on a strong increase of domestic orders; year on year, factory orders declined 19.8%. The Euro remains moving in a narrow range below 1.4360 day high.

EUR/USD recovery from Friday's low at 1.4195 has stalled at 1.4360 high on early European session to hover in a range between 1.4340 and 1.4365. At the moment of writing, Euro trades at 1.4345.

Resistance levels lie at 1.4360 intra-day high, and above here, 1.4375 (Sept 1 high) and 1.4405 (Aug 27 high). On the

downside, initial support lies at 1.4285, and below there, 1.4230 and 1.4275/90 (Sept 1 and 2 lows).

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