EURUSD broke below 1.2247 support indicating that the downtrend from 1.2886 (Oct 15 high) has resumed. Further decline could be expected, and next target would be at 1.2000 area. Near term resistance is at 1.2350, only break above this level will indicate that lengthier consolidation for the downtrend is needed, then another rise to 1.2500 area could be seen.
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