FXstreet.com (Barcelona)- Euro rally, which has taken the pair from levels around 1.2450 in March, could be about to top at current levels before kicking up a bearish trend to bottom at 1.40 in March 2010, according to the CIBC World Markets' Economic Insight.

According to CIBC World Markets' forecasts, the Euro will drop from levels around 1.5100 to 1.4900 in the current month, and continue downwards in the first quarter of 2002 reaching 1.4000 low by next March.

From March onwards, the CIBC World Markets' research team expects the pair to improve slightly to 1.4100 by mid 2010 and to reach 1.4400 by September 2010 and close next year at levels around 1.4700.