EUR/USD is falling to fresh session lows near 1.2990 with sellers coming into the market just ahead of the London fixing. Prices have edged through the 61.8%retracement of the 1.2765/1.3365 rally, suggesting a renewed decline on to the 1.27 handle is a very viable scenario.
A measured move projection from the 1.3055/1.3365 range implies a similar fate for the EUR. Rallies are capped at 1.3020 near-term. Sellers stretch toward 1.3050/60. Bids are seen through 1.2980 but stops are eyed below.
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