FXstreet.com (Barcelona) - The Euro has slid from levels above 1.5000 on early European session dropping to levels at 1.4950, testing the floor of the last three day's trading range located at the 1.4935/50 area.

In case of breaking below 1.4935 (Nov 10 low), next support levels lie at 1.4900/15 levels (Nov 4.5 and 6 highs) and 1.4850 (Nov 9 low). On the upside, resistance levels lie at 1.5015 session high, and above here, 1.5050/60 (Nov 11 high/Oct 26 high) and 1.5090/00.

According to Carol Harmer, technical analyst at Charmer Charts, 1.4870 area should hold Euro pullback: If this resistance (1.5065) fails to break it would put pressure on the downside and see this come lower back through 1.4920 for 1.4870/62. Initially this should hold the decline and sellers would be advised to cover shorts to here. They will wait a little to gauge the buyers response but if they fail to get some form of buyers interest at 1.4850 sellers will once more rule the day and drive this lower for 1.4815/07 support band.

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