The Euro failed to break 1.4900 on yesterday and declined back into the lower half of the 1.48 zone. Support is now seen at 1.4800 backed by 1.4780 and 1.4750. Resistance starts at 1.4830 followed by 1.4860 and 1.4890. Momentum is still bullish on the daily studies but it lost strength. Hourly sentiment is bearish at the time of this writing. The Euro seem to be heading towards the first support at 1.4800 and even lower and while it does not confirm a stable intra-day support, we expect it to continue the short-term decline. A potential recovery may bring the mid 1.48 area on-focus. Current quote is 1.4807 @07:18 GMT