Euro's retreat after yesterday's rally to 1.4910 (post-FOMC statement high) suggests this week's rise from 1.4626 has possibly ended there and consolidation with downside bias is seen for weakness to 1.4770/80, however, a breach of 1.4734 (previous resistance) is needed to signal correction from 1.4626 has ended.  
  
On the upside, above 1.4880/90 would abort this bearish scenario and risk re-test of 1.4910, break there would extend gain to 1.4928.