FXstreet.com (Barcelona) - The European common currency continues to soar through the Asian session on Monday, after bulls' stubbornness to push prices higher met its next goal, breaking through 1.2800 psychological level, extending Euro's rally to 1.2807, 4-day high, not seen since the sharp pullback from 1.2870 to 1.2680 on Sept 7.
The pair is well on its course to post its biggest daily gain since Sept 1. Euro rose over 90 pips since opening at 1.2714, leaving behind a 3-day range bound, which was well contained by a strong support level at 1.2630/50. At present, the pair consolidates its gains above 1.2800, a 0.65% rise compared to the previous close.
"Next resistance levels may be found at 1.282 intraday level, 1.2876 7 Sep high, 1.292 * 6 Sep high. Support zones may lie at 1.2675 intraday level, 1.2642/55 10, 9 Sep lows, 1.2623 * 31 Aug low" said the 4CASTT analysis team.
