FXstreet.com (Barcelona) - The Euro failed on its attempt to break resistance level at 1.2727, and dropped about 100 pips on its way towards next support level at 1.2660, but rebound on 1.2688 has driven the Euro back towards 1.2727.

Successful attempt to break 1.2727 could drive the Euro towards 1.2755 first, above there, Feb 26 high at 1.2810 would be exposed. On the downside, if the Euro falls below 1.2660, the doors would be open to 1.2600, and below there, the focus would turn to 1.2555 (Mar 9 low).

The Euro continues moving in a bullish configuration, and after bouncing at 1.2580, the pair is moving above the 10 days EMA. On a longer point of view; Upside channel from Mar 3 low at 1.2455 continues intact as long as the pair remains above 1.2580.