With 1.2455 resistance intact, near term outlook in EUR/USD stays bearish. Current fall from 1.3993 should target 61.8% projection of 1.3700 to 1.2500 from 1.2886 at 1.2144 next. Downside momentum as seen in daily MACD isn't too convincing. Thus, we'll be cautious on bottoming around 1.2144. On the upside, break of 1.2455 resistance will turn focus back to 1.2599.
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