E-Forex - The Euro has set a new record high on Friday at 1.5238 on its attempt to break the previous high at 1.5230 and the failed attempt of breaking the said resistance has temporarily weakened the Euro as it pulled back to the intraday support formed by an hourly trendline in the 1.5150 area. The Euro recovered during today's Asian session, now trading near the resistance area of 1.5230-1.5240 as expectations for more aggressive Federal Reserve interest rate cuts ignited selling of the US dollar.