FXstreet.com (Barcelona) - The Euro is weakening on early European session, and the pair is setting an assault at 1.4690/00 support area after having hit session low at 1.4680.
At the moment, the Euro trades at levels around 1.4690, a key level for the bears, according to Carol Harmer, technical analystr at Charmer Charts: You once more have support in the 1.4685/80 region. This is also quite good fib level. If the Euro breaks 1.4670 it will come under pressure for 1.4640/20. Sellers are expected to cover to these lower levels. Buyers will enter, but they will be wary and will jump ship if the market loses 1.4610 support.
On the upside, a rebound at current levels might lead to 1.4740, says Harmer: Now support holding in the 1.4685./80 region leads this higher with another attack on 1.4740 likely. Here longs to be covered. You can attempt small longs over 1.4750, but remember that there is resistance at 1.4770 and this needs to be overcome before any further headway on the topside is seen. Above 1.4770 would led this higher for 1.4825.