FXstreet.com (Barcelona) - The Euro recovery attempts from 1.4825 intra-day low remains capped below 1.4925/30 area, the Euro attempted an upward move but rejected by 1.4930 level, the pair has dropped back to 1.4870 area.

At the moment, the pair is testing 1.4880 support level, in case of further decline, the Euro could find support at 1.4830 (session low) and 1.4800 /(Nov 20 low). On the upside initial resistance lies at 1.4925/30, and above here, 1.4960 (Nov 26 low) and 1.4975/80.

According to Stoyan Mihaylov, technical analyst at Deltastock.com, key support level lies at 1.4801, below here, the Euro could drop to 1.4623: Intraday bias is negative for 1.4801 and a minor consolidation can be expected above the mentioned support, before breaking through the 50-day SMA, towards 1.4623. Intraday resistance is 1.4900 and crucial is 1.5010-20 area.

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