As euro has fallen after yesterday's intra-day brief rally from 1.2588 to 1.2720, suggesting as long as near term good resistance at 1.2720/30 holds, recent fall from 1.3334 to retrace the upmove from 2010 low at 1.1876 would extend marginally but 1.2522 should hold.  
On the upside, above 1.2730 would signal the downtrend fm 1.3334 has made a low at 1.2588 and yield further headway to 1.2772 and 1.2833.