FXstreet.com (Barcelona) - Euro retreat from year to date highs at 1.5145 found support on Wednesday at 1.4665/75 support area, which so far remains under pressure, and below here, the Euro could dip to 1.4625/22 area, according to Alex Rudolph, technical analyst at Commerzbank.

Below 1.4675, Rudolph foresees a re-test to November lows: EUR/USD tumbled to its 1.4675 38.2% Fibonacci retracement where it found interim support Wednesday. If broken through, it should slide further towards the November low and the 61.8% Fibonacci retracement at 1.4625/22.

On the upside, Rudolph points out to 1.4824 and 1.4854: The 1.4824 23.6% Fibonacci retracement together with the 55 day moving average at 1.4854 as well as the breached 2009 uptrend line at 1.4922 are still viewed as minor resistance.

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