FXstreet.com (Barcelona) - EUR/USD rally above 1.2760 has been short lived and the par has returned below that level falling strongly aiming towards 1.2700.

The Euro has reacted downwards from session high at 1.2810, unable to hold the level after having rallied from 1.2682 low in early European session to fall back about 80 euros so far in Early U.S. session after worse than expected U.S. new home sales.

The Euro is running down towards intra-day low at 1.2680 at the moment, if that level breaks the pair could fall towards 1.2660 (Feb 24 low), breaking below there will take the Euro towards Feb 20 low at 1.2560.

On the Upside, above 1.2760, next resistance level comes at intra-day high at 1.2810, and break above that level could open the doors towards intra-week high at 1.2875.