FXstreet.com (Barcelona) - Recovery attempt from 1.4770 low on Tuesday has been rejected at 1.4840 area, on early European session, and the Euro turned down, hitting levels below 1.4800.

Below 1.4800, next support levels lie at 1.4770/85 area (Oct 27 low/ inttra-day low), and below here, 1.4755 (Oct 13 low) and 1.4725. On the upside the Euro might find resistance at 1.4845 (Oct 26 low), and above here, 1.4860/65 and 1.4900.

Liviu Flesar, technical analyst at InnerFX, considers the current decline as a regular trend reversal although wans about declines below 1.4770: Keep an eye on the 1.4770 and 1.4700 support levels because an extended decline into the 1.46 region would hurt the mid-term's sentiment and the euro could become vulnerable to reaching 1.45.

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