Forex: EUR/USD surges to 1.3645 high on rate hike comments (Barcelona) - The Euro has bounced up sharply from day lows at 1.3545, fuelled by ECB's governing council member Bini Smaghi's comments about monetary tightening, and the pair rose above 1.3625, reaching a fresh one-week high at 1.3645.

On the upside, the pair might find resistance at 1.3650(intra-day resistance) and above here 1.3690 (Feb 8 high) and 1.3745 (Feb 9 high). On the downside, support levels lie at 1.3535 (Feb 17 low) the pair might find support at 1.3460 (Feb 15/16 low), and 1.3425 (Feb 14 low).

ECB member Bini Smaghi pointed out to the Bank's need to keep Consumer Prices expectations in check, which has been taken by the markets as a suggestion of higher interest rates.