EURUSD continued its downward movement from 1.3411, and the fall extended to as low as 1.2666. Further decline would likely be seen after a minor consolidation, and next target would be at 1.2500 area. Near term resistance is at 1.2765, and the key resistance is located at the downward trend line on 4-hour chart, only a clear break below the trend line resistance could signal completion of the downtrend.
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