FXstreet.com (Barcelona) - Euro decline from 1.4767 high on September 17 has found support at 1.4610 support area on early U.S. session, and the Euro has picked up reaching levels around 1.4660.

The Euro, however, remains bearish while below the 20 hour SMA, according to Valeria Bednarik, collaborator at FXstreet.com and further decline should not be discarded: 20 SMA above current price and turning bearish support further falls for next hours, with 4 hours time frames also bearish. Pair could reach strong 1.4550 support that should hold the downside. Under that level, expect momentum to accelerate.

Resistance levels, according to Bednarik, lie at 1.4640, 1.4680 and 1.4720. Support levels lie at 1.4610, 1.4580 and 1.4550.

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