FXstreet.com (Barcelona) - The Euro has lost about 50 pips at the European opening, and from 1.4635 area, the pair has dipped to levels below 1.4600, trading at 1.4595 at the moment of writing.

On a wider perspective, the Pair remains, moving within the range seen during the last 12 hours from 1.4585 to 1.4635, although range floor at 1.4585 has been tested recently. Below here, next support levels lie at 1.4560 (Sept 15 low) and 1.4530/35 projection. On teh upside, resistance levels lie at 1.4650, and above here, 1.4675/80 and 1.4720/25 (Sept 25/28 high).

According to Nicole Elliott, senior technical analyst at Mizuho Corporate Bank, the pair will continue consolidating at current levels: Correcting and consolidating, clearly above the most recent Fibonacci retracement, between the nine-day and twenty-six day averages. Allow for more sideways work today and maybe for a fortnight.