Despite euro's recovery from Friday's low at 1.5555, this move is viewed as a minor correction of last week's selloff and the decline from record top at 1.6020 should resume for re-test of said support, break would extend weakness towards 1.5510.  
On the upside, above previous resistance at 1.5707 would defer this bearish scenario and risk stronger retracement to 1.5730/40.