Although it broke the resistance at 1.4952, The Euro was unable to surpass 1.50. The sharp drop that followed made 1.4875 the most important support for the short-term. This support, could reverse this drop, and initiate a rising move. But if it is broken, the drop coming from 1.4997 will continue, targeting 1.4820 first, and then the most important support for the time being at 1.4786.

On the other hand, short-term resistance is 1.4951, and if it is overtaken, then the technical outlook will have the strength to reach 1.5018 first, and if this is broke we have the right to expect 1.5082 for the first time this year.

Support:

• 1.4875: Fibonacci 61.8% for the short-term.

• 1.4820: November 13th low.

• 1.4786: Fibonacci 61.8% for the rising move from 1.4625, the most important support for the medium-term.

Resistance:

• 1.4951: short-term resistance.

• 1.5018: Nov 9th & 10th high.

• 1.5082: previous resistance from 2008.