FXstreet.com (Barcelona) - The Euro is softening somewhat against the Dollar, and retreat from year to date high at 1.4965 has edged down below 1.4885 session low.

Incase of consolidation below 1.4885/90 area, the Euro mightrt find support at 1.4835/45 (Oct 14/15 high) and 1.4810. On the upside, initial resistance remains at 1.4925/30 and above here, 1.4965 (Oct 15/Intra-day high) and 1.4980 (Aug 13 08 high).

The Swiss e Trade Strategy Team points out to the double top at 1.4965: We see first support at 1.4840 and more substantial support at 1.4650. An important technical factor to note is the double top at 1.4967 seen on the daily charts. If this top holds in today's trading, then we see prices falling to first support at 1.4840 and possibly further.

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