FXstreet.com (Barcelona) - Euro decline has been held, so far at 1.4665, fresh 5-week low on early Asian session, and the pair has appreciated slowly ever since, reaching 1.4780 session high on European trade, to ease to 1.4750 at the moment of writing.

On a wider perspective, however, the pair remains biased to the downside, according to Peter Rosenstreich, technical analyst at ACM - Advanced Currency Markets, who expects a new downturn towards 1.4625 area over the next sessions: The bearish trend in the very short term is still intact so we expect a test of 1.4625 key support in the coming sessions; a break below which would trigger further selling pressure towards 1.4480.

On the upside, Rosentreich points out to 1.4900 area to neutralize current bearish pressure: Only a break above 1.4900 would neutralize this bearish tone, but expect offers to come in ahead of that level.