FXstreet.com (Barcelona) - The Euro has retreated from 1.4675 resistance area and dropped to support level at 1.4585 on the back of U.S. ADP and GDP data, but the mentioned support level has remained intact, and the Euro returned to levels above 1.4600.

The Euro, however, remains biased to the downside, and upside moves are likely to be capped at 1.4690/1.4720, according to the ecPulse.com analysis team: It is possible that this pair's pattern could be pushed to achieve a minor upside move, reaching levels 1.4690 - 1.4720 as the highest points, and then returning to continue its downside move expected this morning. The stochastic supports our expectation of reversing to the downside where the decline is also valid as long as trading remains below 1.4720.

Support levels, according to the ecPulse.com analysis team, lie at 1.5980, 1.5910 and 1.5845, resistance levels lie at 1.6115 1.6155 1.6190.