The euro closed at 1.16407, down 0.00797 for the month. Recall that September saw the euro establish a major (long-term) bearish key reversal as it posted a new high of 1.20099. Initial support is the September low of 1.16127, with a downside target beyond that between 1.14851 and 1.11610. Monthly stochastics remain near the overbought level of 80% indicating there is still a lot of room for the euro to move lower. The weekly chart is also shows a secondary (intermediate-term) downtrend with stocahstics partially above the oversold level of 20%.