FXstreet.com (Barcelona) - After break the 1.2675, the EUR/USD has continued its rally rising around 50 pips in the last hour to reach the 1.2697, today's maximum.

The EUR/USD is moving right now in the 1.2690/1.2700 band on attempt to break the 1.2700 resistance and consolidate its growth above this level. If the pair confirm its attempt, the new resistance will be 1.2725.

On a longer term, the EUR/USD is trading within a downward trending channel down from 1.3093 (Feb 9 high). Only above 1.2725 the Euro would leave intraday bearish trend.

According to Valeria Bednarik, FXstreet.com collaborator: The pair started a nice correction and remains close to the 1.2686, today's high and first resistance to consider from actual price. Indicators are pointing to the upside, so a test of the descendant trend line in next chart, seems likely above that point, the 1.2720 zone.