Currency strategist BNP Paribas believes that the single European currency may strengthen against the dollar to $ 1.4866 level, after this week, couple was able to overcome the maximum in December 2008 at $ 1.4720. The bank believes that the euro / dollar will rise to their highest level since September last year, despite the fact that the technical indicators suggest a growing overbought pair. Unsustainable growth in the past week is likely to continue: "Breakthrough above the December high of $ 1.4720 opens the way for a couple to long-term resistance at $ 1.4866 (maximum in September 2008). As long as the euro / dollar holding above support at $ 1.4640 (intraday minimum of 16 September) growth may continue, despite the extreme conditions overbought pair. Nevertheless, trends in euro / dollar suggests that the recent growth in the European currency, possibly nearing completion - a 14-day RSI is above the level of 70, suggesting a possible reduction couples. Currently, the euro / dollar traded at $ 1.4700.
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