FXstreet.com (Barcelona) - Euro decline from 1.4935 session high has accelerated and the pair has broken below Nov 19 low at 1.4845, to hit an intra-day low at 1.4810, right above 1.48005 key support; the floor of the last three weeks trading range.

In case of breaking below 1.4805/00 area, next support levels could be 1.4785 (61.8% Fib retracement of the Nov 3-11 rally) and 1.4700 (Nov 4 low). Resistance levels lie at 1.4880, and above here, 1.4935 intra-day high and 1.4965 (Nov 19 high).

According to Mohammed Isah, technical analyst at FXTechstrategy 1.4736 and 1.4625 should be observed for frther declines: a break below the 1.4736 level and the 1.4625 levels will have to be seen to reverse our upside view and bring further losses towards its Oct 02'09 low at 1.4479. Also we expect a combination of the first mentioned levels(1.4736 and 1.4625) to provide strong support if tested and turn the pair back up.

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