The single currency met renewed selling interest at 1.2615 and fell below yesterday's low of 1.2550 after Moody's downgraded Portugal by 2-notches to A1 from AA2, suggesting decline from last week's high of 1.2723 to retrace intermediate rise from 1.2151 has resumed and further weakness towards 1.2479 support, however, oversold condition should limit downside to 1.2430/40 and yield rebound later.    On the upside, a breach of 1.2615 would indicate pullback is possibly ended, however, breach of 1.2650 is needed to confirm erratic upmove from 4-year low of 1.1876 has resumed for re-test of said resistance.