FXstreet.com (Barcelona) - After it rallies about 100 pips from the 1.2704, break the 1.2727 resistance and rises to the 1.2810 level, the EUR/USD has fallen, rejected by this resistance, bellow the 1.2750.
In the American session, the EUR/USD has fallen around 80 pips from the 1.2810 level (Feb 26 high) to the 1.2730. Currently, the pair is trading around the 1.2735/55 band.
According to Valeria Bednarik, FXstreet.com Collaborator, The recent fall is just a correction movement, the EURUSD has turned bullish: The pair has turned bullish after breaking above the daily descendant trend line, supported with enough volume. Indicators are tending higher, tough the pair needs to break today's high to continue further up. We should see a probable pullback to the broken line before a continuation now at 1.2780.
Bednarik provide us with her resistance and support levels: Support levels: 1.2780 1.2740 1.2700 - Resistance levels: 1.2824 1.2855 1.2898