EURUSD is now in downtrend from 1.2867, the rise from 1.2613 is likely consolidation of the downtrend. Further decline to test 1.2500 support would likely be seen, a breakdown below this level will signal resumption of the longer term downtrend from 1.3700 (Jul 1 high), 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.
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