The Euro failed to hold above the 1.4800 mark on yesterday and declined towards the mid-term support level at 1.4730 formed on the second half of this month. Support is now seen at 1.4730 backed by 1.4700 and 1.4635. Resistance starts at 1.4755 followed by 1.4780 and 1.4800. Daily sentiment is bearish, momentum being slightly bearish on the hourly studies too. If the support level at 1.4730 won't hold then the Euro may advance lower towards the 1.45 area where the next mid-term support levels are seen. If it holds, then a recovery may encourage the Euro to climb back into the 1.48 zone within the next trading sessions. We expect the support at 1.4730 to act as a strong barrier and we suggest to pay attention on potential tests. Current quote is 1.4740 @07:17 GMT