EURUSD: Sees Sharp Decline, Eyes Further Downside.
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EURUSD: With a sell off reversing its corrective recovery the past week, further weakness is likely in the new week. This leaves the pair targeting the 1.2700 level with a loss of here turning attention to the 1.2660 level and then the 1.2600 level. Further down, support lies at the 1.2500 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, EUR will have to break and hold above the 1.3047 level to annul its downside and turn attention to the 1.3250 followed by the 1.3318 level. All in all, EUR continues to retain its downside bias