EURUSD’s downward movement from 1.2867 extended to as low as 1.2613. Further decline to test 1.2500 support could be expected, a breakdown below this level will indicate that the longer term downtrend from 1.3700 (Jul 1 high) has resumed, then next target would be at 1.2200 area. Resistance is at 1.2750, only break above this level could trigger another rise to 1.2950 area.
