Dismal picture for the EUR, at two year lows. ECB’s communique as well as stonger than expected US NFPs did not help the situation either. Big intermediate target on the downside is the 1,20 level. In the shorter term there is resistance @ 1.2570, 1.26 and 1.2630. There may be some support at 1.2470, but all bets are off given the Euro’s relentless weakness.
EUR/USD, weekly (3 months):
Chart courtesy of StockCharts.com. http://stockcharts.com
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