The quantum Euclidean spheres, $S_q^{N-1}$, are (noncommutative) homogeneous spaces of quantum orthogonal groups, $\SO_q(N)$. The *-algebra $A(S^{N-1}_q)$ of polynomial functions on each of these is given by generators and relations which can be expressed in terms of a self-adjoint, unipotent matrix. We explicitly construct complete sets of generators for the K-theory (by nontrivial self-adjoint idempotents and unitaries) and the K-homology (by nontrivial Fredholm modules) of the spheres $S_q^{N-1}$. We also construct the corresponding Chern characters in cyclic homology and cohomology and compute the pairing of K-theory with K-homology. On odd spheres (i. e., for N even) we exhibit unbounded Fredholm modules by means of a natural unbounded operator D which, while failing to have compact resolvent, has bounded commutators with all elements in the algebra $A(S^{N-1}_q)$.