EURUSD’s downward movement from 1.2867 extended to as low as 1.2547. Further decline to test 1.2500 support could be expected, a breakdown below this level will signal resumption of the downtrend from 1.3700 (Jul 1 high), then next target would be at 1.2200 area. Resistance levels are at 1.2665 and 1.2770, only break above these levels could trigger another rise to 1.3000 area.
