FXstreet.com (Barcelona) - Rally from rebound at 1.3000 level yesterday has extended on early European session and The Euro reaches resistance level at 1.3200 April 17 high.

According to Tim Salem, collaborator at FXstreet.com, the Euro is trading under bullish pressure: Bullish Momentum continues with overextended Price Behavior, as Appreciation through Daily Static Resistance @ 1.3163 looks towards the 1.3200 Figure of Resistance in the Immediate-Term.

Salem affirms that upside bias is favoured, although he advices caution over a likely corrective setback: Upside Bias is favored, although Corrective Behavior is needed for Directional Integrity, where a pullback to the Hourly 20SMA/200SMA Bullish Cross @ 1/3088 also has Confluence with the Daily Pivot.

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