FXstreet.com (Barcelona) - Euro pullback from 1.4653 9-month high reached on Monday extended to test support at 1.4580, which remained intact, and the Euro has returned to levels above 1.4600, trading at 1.4610 at the moment of writing.

According to the Swiss e Trade Strategy Team, the Euro has been going through a corrective decline and it will retirn to year to date highs: We think that downward correction will be short lived, soon to be replaced by a recovery up to the levels around 1.4650 again.

Resistance levels lie at 1.4655 (Sept 14 high) , and above here, 1.4665/75 (trendline) and December 2008 high at 1.4720. On the downside, support levels lie at 1.4580 intra-day low, and below here, 1.4500/15 (Sept 10/14 low) and 1.4465 (Sept 9 low).

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