FXstreet.com (Barcelona) - The Euro has continued its recovery from 1.2615, and the pair has rallied about 140 pips so far reaching past 1.2727 intra-day high and continued upwards, with two-weeks high at 1.2822.

In case of successful move above 1.2727, next resistance level remains at 1.2822 intra-week high, above here, next resistance level comes at 1.2900 (Feb 25 high). Once above here, the Euro would confirm upside trend, and buying pressure could increase and the Euro could test 1.2990 Feb23 high.

On the downside, below 1.2727, EUR/USD could reach to 1.2612 first and below here, next support comes at 1.2555 (mar 9 low), below here the short-term trend would shift to bearish, and selling pressure could increase sending the pair towards Mar 5 low at 1.2480.