FXstreet.com (Barcelona) - The Euro has hit 1.3330 support level on early European session on its correction from 1.3440 high reached on early Asian session, although the Euro remains somewhat above support, around 1.3345.

According to Carol Harmer, technical analyst at Charmer Charts, selling pressure could increase below 1.3340: Currently you are seeing corrective pressure from the sellers kick in with the first short term fib level of 1.3358 virtually attained. Buyers have stepped in, but will not hold if the market breaks the 1.3340 region. Sellers would then triumphantly push the market lower with 1.3308 to 1.3280 looking to be the short term objective.

Resistance levels lie at 1.3440, today's high, and above there, 1.3460/65 and 1.3480. On the downside, support levels might come at 1.3330/45 and below there, 1.3300 and 1.3250.

For more information, read our latest forex news.