FXstreet.com (Barcelona) - The Euro has rallied in early U.S. session breaking resistance at 1.30, as the negative influence of rumours about troubled Russian banks seems to be vanishing in U.S. session.

Once 1.30 is broken, focus is at 1.3068, Feb 4 high, and 1.3091, Feb 9 high. On the downside, below 1.30, 1.2910 and 1.2871 are the next support levels.

In the medium term, the Euro Dollar has broken the upper line of the downward trend channel from 1.4720 on Dic 18. In the last 8 days the Euro has been trading on a range from 1.2695 to 1.3068.

Furthermore, The GBP/USD continued losing strength, the Cable has lost about 150 pips to 1.4677, breaking thus the upward trending channel of the last seven days. The USDJPY continues trading in a narrow range from 91.00 to 91.78.