Although the single currency has continued to trade defensively and near term bearishness remains for recent decline to extend further weakness to 1.3090-95 (1.236 times projection of 1.3993-1.3503 measuring from 1.3700), loss of downward momentum should prevent sharp fall below there and reckon 1.3060-65 (61.8% projection of 1.3412-1.3153 measuring from
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