FXstreet.com (Barcelona) - Recovery from 1.4205 low on Wednesday has been capped at 1.4280, and the Euro has reversed dropping to levels right above 1.4220 intra-day low.

Support levels lie at initial support remains at 1.4205 (Aug 25 low) and below here, 1.4170 and 1.4130. Resistance levels lie at 1.4280 intra-day high, and above here, 1.4310 and 1.4360 (Aug 24 and 25 high).

According to Valeria Bednarik, collaboator at FXstreet.com, hourly indicators point out to further declines: the upside capped at the 1.4280 area, where we can find 20 SMA in 4 hours charts. Hourly charts indicators point for further losses in the next hours, with a short term ascendant trend line acting as dynamic support now around 1.4230; under that, yesterday's low of 1.4203 will be key as break under that point will accelerate the fall.