The single currency rebounded strongly after the retreat from last Friday's high of 1.2613 to 1.2479 in Asia today, suggesting correction has possibly ended and erratic upmove from 4-year low of 1.1876 may resume for re-test of said resistance, above would extend gain to 1.2689/90, however, loss of upward momentum should cap price at 1.2730/40 and bring pullback.    On the downside, a breach of 1.2479 would bring stronger retracement of intermediate rise from 1.2151 to 1.2403/05, however, price should hold well above 1.2305 (previous minor resistance, now support).