Forex: EUR/USD: Euro, consolidating below 1.4915/25 resistance area

Fri, Nov 6 2009, 07:31 GMT
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FXstreet.com (Barcelona) - The Euro retreated from post FOMC high at 1.4910 to find support on Thursday at 1.4810, and the Euro bounced up, fuelled by upbeat U.S. data to hit a fresh high at 1.4915, easing afterwards to consolidate, during Asian session in a tight range from 1.4850 to 1.4875.

Initial support lies at 1.4865/70, and below here, 1.4830/40, both intra-day levels, in case of breaking below here, hext support would be at 1.4810 (Nov 5 low/ Nov 3 high).

EUR/GBP has remained consolidating in a range from 0.8920 to 0.9065. After being capped on Thursday at 0.9000, the Euro has declined during Asian session to reach levels around 0.8950 at the moment of writing. Support levels lie at 0.8920 and 0.8895. Resistance levels are 0.9000 and 0.9060.

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