The Euro declined slightly versus the Dollar and the Pound as Spain's credit rating cut by Fitch Ratings overweighed investors' sentiment. CPI Flash Estimate came out 1.6% as expected. Overall, EUR/USD traded with a low of 1.2267 and a high of 1.2334. EUR/USD is consolidating towards its lowest level in 4 years and another breakdown is possible. Today, German Retail Sales are expected with 0.8% versus -1.6% prior.

EUR/USD - Last: 1.2265

Resistance

1.2335

1.2400

1.2450

Support

1.2240

1.2200

1.2150

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