FXstreet.com (Barcelona) - The Euro is in a downtrend after retreating from 1.4415 high yesterday and, after confirming bearish move below 1.4200, the pair is extends to the downtrend, dipping below session low at 1.4160 to a fresh 5-month low at 1.4150 so far.

Below 1.4160, next support levels come at 1.4130 and 1.4100 (psychological level). On the upside, initial resistance lies at 1.4230, and above here, 1.4250/60 (an 19 low), and 1.4300/10.

On a wider perspective, Stoyan Mihaylov, technical analyst at Deltastock.com sees the Euro in a downtrend targeting 1.3740: Yesterday's slide from 1.4410 broke through 1.4260 trigger zone thus confirming, that a new downtrend towards 1.3740 is already on the run. The intraday bias is negative for 1.4000-4039 sentiment area and crucial on the upside is 1.4260-80.

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