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EURUSD: With EUR selling off to reverse its Wednesday gains on Thursday, there is risk of further declines in the days ahead. Further down, support resides at the 1.2837 level where a violation will aim at the 1.2798 level. Bears may come in here and push the pair back up but if this fails, look for more downside to occur towards the 1.2700 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, the pair will have to turn higher above the 1.3031 level to take back its present weakness. This if seen will extend further upside towards the 1.3100 level and then the 1.3150 level. All in all, EUR continues to retain its medium term downside bias.