The Euro retreated from the post-gap top, and filled more than a third of the gap. This normal retreat after the sharp rise from 1.3281 has not done any harm for the technical outlook, since the price is still above the broken line with a comfortable margin. But the fragile consolidation above 1.3567 makes us expect more downside activity, immediately after it is broken. If this support gives way, the Euro will fall further, targeting two important levels: the first of which is the gap filling level at 1.3495, and the second has a huge importance for the short and may be medium term as well, since it combines Fibonacci 61.8% and the broken trend line which we said it is very important to stay above, in order to achieve more gains. The resistance is at 1.3643 and only if it is broken, we can expect more gains, and a new weekly high, since the targets for such a break will be 1.3709 & 1.3794.

Support:

* 1.3667: Asian session low gap filling level. 38.2% for the rise from 1.3281.

* 1.3495: filling the gap level.

* 1.3437: Fibonacci 61.8% for the rise from 1.3281.

Resistance:

* 1.3643: short term Fibonacci 61.8%.

* 1.3709: Fibonacci 23.6% for the whole drop from 1.5143 to 1.3266.

* 1.3794: Mar 12th high.