FXstreet.com (Barcelona) - Despite a sudden reaction below 1.2500 support level after a worse than expected ADP figures, the Euro has pulled together and has recovered lost ground breaking 1.2550 to reach 1.2580 so far on its way towards 1.2600.

The Euro rally extends and the pair has posted a rally of above 100 pips from 1.2460. Above 1.2600 the EUR/USD bias would change to bullish and buying pressure could increase driving the Euro towards 1.2630 first and then to 1.2660/75 level.

On the longer term, the Euro is setting an assault to the downward trending resistance line 1.2990 (Feb 23 high), consolidation above 1.2600 would confirm that the pair has succeeded breaking that trend, on the contrary, a reaction lower would put 1.2515 into focus and below there 1.2455 long term resistance would be exposed.