FXstreet.com (Barcelona) - The Euro has turned down after testing 134.50 resistance, (50% Fibonacci retracement of the Sept - Jan decline), setting a fresh 5-months high on its rally from 112.00 low on January 21, it was the sixth out of the last seven days when the MSCI Asia Pacific Index rose more than 1.3%.

On the Downside, the pair could find support at 132.60 (Mar 23 high) and below here 132.00 and below here 1.31.00 (Dec 18 high). While on the upside, once above 134.50 resistance level, 1.36.86 would be the level to watch before 61.80 Fibonacci retracement of the Sept - Jan decline at 139.85.