FX Street - EUR/USD: Euro rises past 1.2630/40; 1.2675 ahead

FREE 67 Page E-Book Reveals An Insider’s Guide To Forex Trading… Discover Little Known Insider Techniques To Sky-Rocket Your Trades Off The Charts - $37 Value

Simply fill in your first name and valid email address to get instant access to your FREE copy of this amazing e-book, valued at $37!

I take your privacy very seriously and will NOT share your information with anyone! I promise :)

FX Street - EUR/USD: Euro rises past 1.2630/40; 1.2675 ahead

FXstreet.com (Barcelona) â€“ EUR/USD is picking up strength after bouncing back from 1.2525 on Wednesday and has been rallying about 120 pips so far, as concerns over Eastern European Banks affecting Eurozoneâ€™s economy seem to be fading.

The Euro has broken resistance at 1.2630 in early European session reaching 1.2660 on its way to 1.2675. Above here, next resistance lines stand at 1.2700 and 1.2725. If upside move above 1.2630 does not succeed, the Euro will focus on support line at 1.2560, and below here 1.2525.

On a longer term, the EUR/USD is trading within a downward trending channel down from 1.3093 (Feb 9 high). Only above 1.2725 the Euro would leave its bearish trend.