FXstreet.com (Barcelona) - Euro recovery from 1.4185 low has extended to levels around 1.4245 intra-day high and the pair has returned on the back of U.S. data to reach levels right below 1.4200 ahead of the Wall Street opening bell.

Initial support level lies at 1.4190 intra-day high, and below here, 1.4175, (Sept 1 low). in case of further decline, next support could be 1.4155 (Aug 18 high). On the upside, resistance levels lie at 1.4245/55 (intra-day high/Aug 31 high), and above here, 1.4280/85 and 1.4310.

According to the Swiss e Trade Strategy Team, there could be more room for EUR/USD decline: Right now in a very slow upward correction, we expect this move to fade soon, opening more downward room for today, first breaking the 1.4200 support level and then testing the 1.4150 support.

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