FXstreet.com (Barcelona) - The Euro has rallied sharply during European session and rebound from 1.4255 has extended to levels past 1.4400, to reach 1.4415, making back almost all the ground lost on its retreat from 1.4440 (Dec 31 high).

On the upside, the Euro might meet significant resistance at 1.4460, says Peter Rosentreich, technical analyst at ACM - Advanced Currency Markets: 1.4460 should pose a significant barrier to any further rallies, and any break above there would face further supply at 1.4500, 1.4600, and a major hurdle at 1.4685.

On the downside, Rosentreich points out to 1.4258 and 1.4232: On the downside, today's lows at 1.4258 provide weak near-term support, with the 200 day moving average coming in below at 1.4232, and range lows at 1.4210 the major level to watch.