FXstreet.com (Barcelona) - The Euro has extended its retreat from intra-day high at 1.4670 on the back of U.S. Personal Income/spending and jobless claims data, as the pair dipped below previous intra-day low at 1.4550 to hit 1.4518 low, several pips above Sept 14 low at 1.4515.
At the moment, the Euro trades at 1.4560, with next support levels at 1.4515 (Sept 14 low) and below there, 1.4500 (Sept 10 low) and 1.4445 (Aug 5 low). On the upside, resistance levels lie at 1.4600/15, and above here, 1.4675/80 (Sept 30 high/intra-day highs), and 1.4720/25 (Sept 25/28 high).
According to the ecPulse.com analysis team, below 1.4600, the Euro could drop to 1.4400 area: The euro versus dollar was able to breach the mentioned support level at 1.4600 to move to the downside, where expectations target 1.4400. From here, our morning expectations remain intact, where achieving a bearish intraday trend will remain intact if trading remains below level 1.4720.