The Euro broke the 1.30 level and tumbled on concern that rescue package for Greece will fail. The main stock markets in Europe fell by more than 2%. Spain's avoiding of making any reform in the economic system also helped to push the Euro lower. The PPI came out 0.6% worse than expected 0.9%. Breaking below the support level of 1.2970 will accelerate the negative momentum for the pair. Overall, EUR/USD traded with a low of 1.2962 and a high of 1.3212. Today, the Retail Sales is expected at 0.1% vs. -0.6% previously

EUR/USD - Last: 1.2950

Resistance

1.2970

1.3020

1.3070

Support

1.2940

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