The Euro declined on Friday after it reached a record high at 1.4970. Support is now formed at 1.4800 backed by 1.4780 and 1.4750. Resistance starts at 1.4840 followed by 1.4880 and 1.4900 and 1.4940. The daily momentum is still bullish and it will remain so while the Euro holds above the lower half of the 1.47 area. Hourly sentiment is slightly bearish at the time of this writing. The support level at 1.4800 seem stable so far and if it holds, the Euro will recover and try to find support above the 1.4840 mark. The upside is still favored but a break of 1.4800 would probably extend the retracement into the lower half of the 1.47 zone. Current quote is 1.4813 @07:10 GMT