FXstreet.com (Barcelona) - Euro rebound from 1.4828 low has extended on early Monday trade to levels right below 1.5100, easing downward momentum, according to Karen Jones, technical analyst at Commerzbank who observes the possibility of a run to 1.5140/1.5245 area.

According to Jones, the Euro could rise to 1.5140/1.5245 and pull down afterwards: With the uptrend holding near term - another run up towards the 1.5140/1.5245 remains viable. This is the 78.6% retracement - we would expect to see failure here.

On the downside, Jones points out to 1.4800 as a defense against a decline to 1.4450/75: 1.4800 would negate upside pressure and signal a slide to the current November low and the double Fibonacci support at 1.4450/75.

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