FXstreet.com (Barcelona) - The Euro is dropping sharply on early U.S. session and retreat from 1.5060 session high has extended below 1.4980 intra-day low, as the Euro trades around 1.4970 at the moment of writing.

If the Euro consolidates below 1.4980, next support levels lie at 1.4940 (Oct 22 low) and 1.4900/05.

On the upside, above 1.5000, next support levels lie at 1.5060 (Intra-day high/ Oct 23 high), and above here, 1.5085 (Aug 11 08 high) and 16000.

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