FXstreet.com (Barcelona) - The Euro is stepping back slightly after having rallied close to 100 pips during the European trading session to reach 1.3075 high, at the moment the Euro moves right above 1.3050 support level.

According to the Swiss e Trade Strategy Team, the Euro might have reached a top and the pair might drop to lower levels: The pair is about to attack the resistance zone between 1.3050 and 1.3190 this European morning and is currently trading at 1.3039. We expect that resistance to hold in today's trading and see a later downturn to 1.2950.

Next resistance levels might lie at 1.3090 (Apr 10 low) and above here, 13125/45 (Apr 16 and 15 lows). On the Downside, below 1.3050, the Euro might find support at 1.3035 and then 1.2980.

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