FXstreet.com (Barcelona) - The EUR/USD failed to break the 1.2600 support after the worst than expected US GDP data and the pair has been launched above the 1.2700 level.

The EUR/USD has risen more than 130 pips in the last two hour after be rejected by the 1.2600 support and climb up to 1.2730 recovering almost all losses in European session. Currently, the pair is trading around the 1.2695/1.2705 band.

According to Slobodan Drvenica, Analyst from Windsor Brokers, the EUR/USD maintains the negative tone: with 1.2751 lower top capping and the break under 1.2662, 24 Feb low, to open 1.2557 first, then 1.2392, 2008 low, posted 28.Oct. Res: 1.2700, 1.2755, 1.2784, 1.2811 and Sup: 1.2602, 1.2557, 1.2513, 1.2423.