FXstreet.com (Barcelona) - The Euro dropped on early European session from 1.4360 high to test support area at 1.4275 and bounced back above 1.4300 reaching 1.4330 level at the time of writing.

According to the ecPulse.com analysis team, the pair remains on the upside as long as it stays above 1.4200 support: Our expectations for an intraday upside move for today remain high, where we await the pair to rebound off current levels to the upside to breach key resistance level 1.4365, and open the way to today's targets around 1.4550.Let's not forget the importance of trading remaining above 1.4200 to keep the upside move valid for today.

On the upside, the Euro might find resistance at 1.4375 (Aug 20 high), and above here, 1.4415, (Aug 7 high) and 1.4445 (Aug 5 high). Support levels lie at the mentioned 1.4275 (Aug 21 low) and below here, 1.4200 (Aug 20 and 21 low) and then 1.4170.