FXstreet.com (Barcelona) - The EUR/USD plummeted in the first hours of Wednesday's Asian session dropping from level around 1.2580, breaking support at 1.2510 (Feb 18 low), to a 3 month low at 1.2460.

From that level the Euro has recovered slightly and is testing 1.2515 ahead of the European session time. The Euro is in a bearish configuration in the hourly and daily charts since drop from 1.2992 (Feb 23 high.).

If the pair does not t hold above 1.2510, selling pressure could increase and the Euro might set a test to intra day low at 1.2460, below there, next support level is 1.2424.

On the Upside, once confirmed above 1.2510, the Euro should try to break through 1.2545 in order to attempt a move above 1.2600, only over 1.2600 the Euro would change its bearish bias.