The Euro moved in both directions, before choosing the upside, creating a rising move that continued from Friday until after the open last night, that elevated the EURUSD to 1.4971 until now. The most important support for medium-term is 1.4786, which is a crucial support, for setting the direction for the next few days, because breaking it would indicate that the drop from 1.5047 is not just a correction. Such a break would harm the technical outlook not just for the short-term but for the medium-term as well. However, for the short-term, the most important support is 1.4934, and breaking it would indicate that the fall will carry on and target the important 1.4786, and if broken we will see a test of the bottom that we saw twice 1.4682. The resistance is at 1.4972, and breaking it would send the price to test the top that we saw twice last week 1.5018, which is the key to 1.5082 that could be seen for the first time this year.
 

Support:

• 1.4934: short-term support.

• 1.4856: Oct 28th & 29th high.

• 1.4782: Fibonacci 61.8% for the rising move from 1.4625.

Resistance:

• 1.4972: short-term resistance.

• 1.5018: Nov 9th & 10th high.

• 1.5082: previous resistance from 2008.