FXstreet.com (Barcelona) - Euro retreat from 15 month high at 1.5145 as extended during Asian session, and the Euro reached session lows around 1.4830 at European opening times, although, according to Karen Jones, technical analyst at Commerzbank, Euro upward trend remains intact while above 1.4822.

The Euro remains on an uptrend while above the 55-day SMA, says Jones: For now however while above the 55 day ma and uptrend at 1.4822/13 the upmove is intact. While above here scope remains for this current move higher to extend to 1.5245, the 78.6% retracement.

On the downside, below 1.4813, Jones advances potential decline to 1.4450/75 area: failure to hold over 1.4813 would alleviate upside pressure and signal a slide to the current November low and the double Fibonacci support at 1.4450/75.

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