FXstreet.com (Barcelona) - The Euro is dropping aggressively on early European session as the pair´s recovery attempt seen during Asian session capped at 1.4905, to reverse on early European dropping below Friday's low at 1.4820 to a fresh one-month low at 1.4765.

below 1.4800, next support levels lie at 1.4730/40, and below here, 1.4700 (Nov 4 low) and 1.4680 (Nov 2 low). On the upside, recovery past 1.4800 might find resistance at 1.4820 (Dec 4 low), and above here, 1.4900/10 and 1.4965/80.

Carol Harmer, technical analyst at Charmer Charts points out to 1.4730 support as key level for sellers to rescue Euro: A loss of 1.4820 would lead this lower to the next longer term fib level of 1.4730. Once more you should expect sellers to come in and take profits. There should also be fresh buyers evident here and this is a good support area thus it is liable to hold first attempt.

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