Although euro has recovered after Friday's selloff to 1.4586, as last week's breach of support at 1.4626 signals medium-term uptrend has ended last month at 1.5145, downside bias remains for another fall and below support would extend weakness to 1.4540/50 before prospect of a rebound due to anticipated oversold condition.  
  
On the upside, above 1.4700/10 would signal recent decline has formed a temporary low and risk rebound to 1.4750 and possibly towards 1.4777 (Friday's high).