FXstreet.com (Barcelona) - EUR/USD has posted an strong rebound from yesterday's low at 1.2480 after Trichet's speech, to rally, past intra -week high at 1.2675 (Mar 3 high) and launch an assault to 1.2700 resistance level ahead of the European session opening.

The Euro has opened a bullish move from Mar 3 low at 1.2455; the lowest point of its bearish move from 1.2990 high (Feb 23 high). The pair has to jump over 1.2700 first and then 1.2750 resistance level will be on sight, above here 1.2810 (Feb 10 high) and what seems an strong resistance level, 1.2875.

On the downside, rejection from 1.2700 could put the Euro back towards 1.2665 first, and then 1.2635 before 1.2600; below here, the Euro would feel increasing selling pressure towards 1.2540/50 support level.