FXstreet.com (Barcelona) - The Euro has lost almost 100 pips during the Asian trading hours, from a session high at 1.2727 the Euro has dropped to test support line at 1.2635.
On the downside, the Euro could find support at 1.2635, and below there, 1.2600, in case of a large decline, next support level would be at 1.2530/45 area. On the Upside 1,2700 is the closest resistance level, with 1.2750 above, and next 1.2800.
According to Tomas Cedavicius, technical analyst at Forex-Trends.com buying, up to 1.2900 is te best option with the Euro: EURUSD moved resistance line up to 1.2730 and looks slightly positive. There are not so many reasons for buying, but while support line at 1.2536 holds the same position, buying is better option, at least till 1.2900. Reason is, in the case of another attempt go to resistance line most likely will break it and next resistance will appear around 1.2900.