* EUR/USD fell to a 2 1/2-week low of 0.9045 on early weakness in EUR/JPY. Japanese finance minister Kiichi Miyazawa pressured, saying the finance ministry had no intention of increasing its euro-denominated reserves. Traders noted sales from Swiss and southern European names. Euro-zone economic data was mostly weak. German WPI rising a well above-forecast 0.9% on the month in February. Portuguese IP slipped 0.7% on the month in January.
The European Central Bank left interest rates at 4.75% as expected. EUR/USD is testing the support of the 100- and 200-day moving averages, last at 0.9047 and 0.9037, respectively.
The outlook is bearish.

Support: 0.9045 (overnight low), 0.9037 (200-day moving average), 0.9015 (Feb. 22 low; 2-month low), 0.8979 (61.8% Fibonacci retracement level of the July 26-Oct. 26 downtrend), 0.8963 (50% Fibonacci retracement level of the June-Oct. downtrend), 0.8880 (Dec. 19 low).
Resistance: 0.9130 (overnight high), 0.9136 (61.8% Fibonacci retracement level of the June-October downtrend), 0.9207 (20-day moving average), 0.9382 (March 2 peak), 0.9446 (Feb. 1 high), 0.9504 (Jan. 19 high), 0.9595 (Jan. 5 high; 6-month high), 0.9621 (38.2% Fibonacci retracement level of the Jan 1998-Oct 2000 downtrend), 0.9693 (June 19 peak), 0.9702 (June 8 peak), 0.9795 (March 2 high).