FXstreet.com (Barcelona) - After several attempts, the Euro has managed to extend decline from 1.4375 high on Friday, to levels below 1.4275 on early European session, to reach an intra-week low at 1.4250.

If the Euro confirms below here, next support levels lie at 1.4230/40, and 1.4200 (Aug 20 low). Resistance levels, above 1.4275, could be located at 1.4305, and above here, 1.4360 (Aug 24 high) and 1.4375 (Aug 21 high).

According to the ecPulse.com analysis team the Euro could bounce at 1.4250 to levels around 1.4550: We expect the pair to continue the downside correction towards 1.4250 before rebounding back to the upside on the intraday basis targeting 1.4550, as far as 1.4200 is intact.

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