FXstreet.com (Barcelona) - The Euro has extended rebound at Monday's low 1.4610 to 1.4797 high on European session, the highest level in the last 12 months and, according to Karen Jones, technical analyst at Commerzbak, targeting levels above 15000.

Jones affirms that the short-term target at 1.4720/50 has been met and exceeded: The market has met and exceeded its short term target of 1.4720/50 - the market stays immediately bid above the 1.4530 support line (key support remains the channel support at 1.4235/20).

For the next sessions, Jones observes the Euro bullish, targeting 1.5225: Target remains 1.5225 - this is the 78.6% retracement of the move 1.6040 - 1.2330 and as such represents the last defence for the 1.6040 high.

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