FXstreet.com (Barcelona) - The Euro seems to have found support at 1.2915 and moves upward again towards resistance level ar 1.2990/1.3000 on early U.S session.

On the Upside, above 1.3000, which seems a pretty tough resistance level, the Euro could find resistance at .3020 (Apr 20 high) and then 1.3085 (Apr 10 low). In case of a downward reaction, the Euro could find support at 1.2915 and below there 1.2890/80.

According to Valeria Bednarik, collaborator at FXstreet.com, the hourly charts show the pair trading under bearish pressure: Consolidating just above the 1.2900 zone, the pair is inside a small flag in the hourly charts, indicators show more bearish pressure for the pair, not as clear due to lateralization. Hovering around the 20 SMA that lost the bearish momentum, pair needs to close actual candle above 1.2950 to attempt a new test of the upper band, around 1.3000.

For more information, read our latest forex news.