The Euro dropped from 1.4376 until it reached and tested Fibonacci 61.8% support for the whole move from 1.4045 to 1.4405. The above mentioned Fibonacci support at 1.4183 will be the most important for the short-term, after it survived yesterday's test (yesterday's low 1.4176) , because a break of this specific support will open the door to a trial to find a new bottom below Aug 17th low 1.4045 within this week. Any attempt to go up will have to break through 1.4252 (short-term 38.2% Fibonacci Resistance), and if this attempt is corrective, it should not go higher than 1.4300, as we can surely say that this is the most important resistance for the moment.

Support:

• 1.4183: Fibonacci support 61.8%, the most important support for short-term.
• 1.4135: The rising trendline from July's low.
• 1.4081-1.4085: a support area that contains Aug 12th & 19th lows.

Resistance:

• 1.4252: Fibonacci 38.2% for the short-term.
• 1.4300: Fibonacci 61.8% for the short-term, the most important resistance for now.
• 1.4360: the falling trendline from Augusts' high.

Forex Analysis by Cory Mitchell at ForexPros. com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check Forexpros. com