The single currency rebounded strongly from Tuesday's 9-1/2 month low of 1.3433 to 1.3736 on the the announcement of Greece's austerity measures, however, as renewed selling interest emerge there, suggesting the correction has possibly ended there and few days of conosolidation with downside bias would be seen and weakness to 1.3549/50 is likely, however, a firm breach of 1.3515 needed to confirm and yield resumption of medium-term downtrend to 1.3433.  
  
On the upside, a breach of 1.3736 would bring one more rise, however, daily resistance at 1.3840 is expected to remain intact and yield retreat later.