FXstreet.com (Barcelona) - The Euro declined on Friday from 1.4855 high to a session low right above 1.4700 on late U.S session, weighed by U.S. Personal consumption figures. to pick up and hit a session high at 1.4780 before easing to 1.4740 at the moment of writing.

Resistance levels, at this point , lie at 1.4780/00 intra-day high, and above here, 1.4840/50 (Oct 28,29 and 30 high) and then 1.4925 (Oct 27 high). On the downside, support levels lie at 1.4700 (intra-day low), and below here, 1.4685 (Oct 29 low) and 1.4670 (Oct 9 low)

On a bigger picture, The Euro has returned to test its long-term rising channel, according to Mohammed Isah, technical analyst at FXTechstrategy: Having swept through key support levels at the 1.5000 level, its psycho level and the 1.4844 level, its Sept 23'09 high the past week to close lower on Friday at 1.4715, potential for further declines is now seen towards its major support coming in at the 1.4615 level where its LT rising trendines currently located.

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