FXstreet.com (Barcelona) - The Euro has refused to take 1.3585 level and it has eased somewhat at the European session opening times dropping to 1.3540, at the moment the Euro moves between these two levels, below exponential moving averages on the hourly chart.

On the upside, if the Euro breaks 1.3585/90 intra-day high, next resistance level stands at 1.3640/50 (Mar 25 and 26 high) and above there, 1.3675 (Mar 24 high), then 1.3740, which has been refused three times. On the downside, in case of a downward reaction, support levels stand at 1.3535, and below here 1.3495 (Mar 26 low). Below here 1.3440 and 1.3415.

According to Tim Salem, collaborator at FXstreet.com, the Euro remains on the upside: Bullish Momentum continues with solid sentiment of higher RSI Reading and 200/200 SMA directional movement. The Swing-Low bounce from 1.3489 Static Support keeps 1.3609 Static Resistance in clear view, and a breach takes Price to the Triple Top Hourly Formation @ Dynamic Support of 1.3643 but only if the Area holds. If violated, Price finds 1.3671 as its' next level.

However, Salem warns about potential corrective swings: Corrective moves within failures find a breach of 20SMA/1.3555 Dynamic Support Confluence with a push through 1.3519 & 1.3487 Dynamic Resistance, finally finding the Congestive Area of 1.3463.