FXstreet.com (Barcelona) - The Euro has broken above the range it has been trading for the last hours. Rebound on 1.2900 support level has extended above 1.2950 after German Zew Institute released a far better then expected economic expectations index in Germany, and The Euro rocketed to 1.2990/1.30 resistance level.

In case of breaking above 1.2990/1.3000, next resistance level could lie at 1.3020, and above here, probably 1.3070. On the downside, back below 1.2950, the Euro could find support at intra-day low at 1.2900/1.2885, and below here, possibly 1.2835 (Mar 16 low) and 1.2755 (Mar 6 high).

EUR/JPY upside reaction from intra-day low at 126.05 has reached above previous day high at 127.50, to post a new high at 127.70, right after the ZEW data was out. Resistance levels remain at 127.70 and 128.20/30. Support lies at 126.05 and 125.45.

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