EUR/USD Mid-Day Outlook

[Forex-Outlook]

EUR/USD drops further to 1.2542 in early US session and intraday bias remains on the downside for 1.2526 low first. Break there will confirm that whole down trend from 1.5143 has resumed and should then target 1.2329 key support level next. On the upside, above 1.2685 minor resistance will suggest that consolidation from 1.2526 is still in progress and bring another recovery. But after all, we'd continue to expect strong resistance at 1.3114 to limit upside and bring down trend resumption eventually.

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