FXstreet.com (Barcelona) - Euro rally from 1.3485 opening price seems to have found a strong resistance level at 1.3585, and the par has dropped towards support level at 1.3515 after weaker than expected retail sales in the Euro Area.

If 1.33515 support breaks, next support level could be at 1.3495/75 and then in the area around 1.3450. On the upside, above 1.3580 resistance would open the doors for 1.3640/50 (26 Mar High), and once above here, 1.3680 (24 Mar high).

According to Stoyan Mihailov, technical analyst at Deltastock, the Euro could rise further before experiencing a downward reversal: Friday's test of the 1.3342 support failed and the pair reversed at 1.3365, reaching high today at 1.3581. There are still no signs of a reversal here, but we will keep our view, that 1.3647 should limit the upside, for next leg downwards, to 1.3092.