The Euro broke the resistance specified in Friday’s report 1.4332, and successfully reached both suggested targets 1.4407 & 1.4485. But this rising move have bumped into (And slightly surpassed) the trend line which was the center of our attention all last week, and caused a notable reversal close to 1.4485. Thus, the Asian session top 1.4531 will be an important resistance to determine if this line is able to create another reversal, or if it will be broken this time, letting the price fly. The support is at 1.4485. We will be waiting for a break of either of them to determine short term trend. IF the resistance 1.4531 is broken, the Euro will gain a lot of strength, targeting 1.4625, and the important Fibonacci level 1.4678. If the support at 1.4485 is broken, it would indicate that this line has probably created another reversal similar to the one we saw last week, ideally targeting 1.4428 & 1.4365.
 
Support:

• 1.4485: important previous resistance close to last week’s high.

• 1.4428: Fibonacci 38.2% for the short term.

• 1.4365: Fibonacci 61.8% for the short term.

 
Resistance:

• 1.4531: Asian session high.

• 1.4625: Nov 3rd low.

• 1.4678: Fibonacci 50% for the medium term.