FXstreet.com (Barcelona) - EUR/USD has posted a strong reaction from 1.2615 and, after a 100 pip rally in the European session, the pair approaches intra-day high at 1.2727.

In case of successful move above 1.2727, next resistance level remains at 1.2822 intra-week high, above here, next resistance level comes at 1.2900 (Feb 25 high). Once above here, the Euro would confirm upside trend, and buying pressure could increase and the Euro could test 1.2990 Feb23 high.

On the downside, retreat from 1.2727 could reach to 1.2612 first and below here, next support comes at 1.2555 (mar 9 low), below here the short-term trend would shift to bearish, and selling pressure could increase sending the pair towards Mar 5 low at 1.2480.