The Euro reached the lowest level in 14-month against the Dollar despite the ft that the European leaders yesterday unveiled an almost $1 trillion bailout plan for indebted nations on concern deficit-cutting measures will undermine growth. The EUR/USD has been trading downwards since April and has broken its support levels each time, therefore the momentum is clearly bearish. Overall, EUR/USD traded with a low of 1.2518 and with a high of 1.2685. No economic data expected today.

EUR/USD - Last: 1.2530

Resistance

1.2600

1.2740

1.2950

Support

1.2520

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