FXstreet.com (Barcelona) - The Euro is rallying against the Dollar reaching past previous two weeks high at 1.2957, aiming to what seems to be an important resistance level at 1.2992 (Feb 23 high); immediately below psychological level at 1.3000.

The Euro stands now at three weeks high crawling towards 1.2992, if that level gives way, the Euro could find resistance at 1.3040 (100 day SMA), and 1.3074 (Mar 10 high).

According to the Mataf.net technical team, rupture of 1.2950 could drive the Euro up to 1.33: The price should find a resistance below 1,2950 (42 pips). The consolidation should continue. If the resistance breaks then the target will be 1,3350 (442 pips).