FXstreet.com (Barcelona) - The Dollar is fighting back and the logical correction after yesterday's rally seems to be taking place; EUR/USD has been rejected at yesterday's two-month high at 1.3735, and dropped through 13616, to test Mar 18 high at 1.3535.

On the downside, confirming bearish reaction below 1.3535, the Euro could find resistance at 1.3410, and below there, 1.3325 (Jan 28 high). Once below there, 1.3160 and 1.3078. At these levels the Dollar would have pared losses after yesterday's drop, and the bias would turn to bearish.

On the upside 1.3615 and 1.3680 should have to be broken before facing resistance around yesterday's high at 1.3740; above there, 1.3795 (8 Jan high) would come into focus, and then 1.3854 (61.5 retracement of the December March decline).