EUR/USD: Euro drops to 1.2760, from 2-week high at 1.2875

By @ibtimes on

FXstreet.com (Barcelona) - After having reached a new 2-week high at 1.2875 on early Asian session, the Euro turned around and fell about 100 pips on late Asian session, down to 1.2760.

On its way down, below 1.2760 the Euro could find support at 1.2725, below there, Mar 3 high at 1.2665 and then 1.2630 (Mar 10 and 11 low). On the Upside, a successful reaction from 1.2760 should break 1.2820 (Mar 10 high) in order to launch a re-test to 2-weeks high at 1.2870.

On a longer point of view, the Euro continues trending up, trading over an upward trending support line off Mar 3 low at 1.2456. The medium term upside bias will be active as long as support level at 1.2615 holds.

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