The single currency rose briefly to 1.2872 in Asian morning today and then retreated strongly on position adjustments ahead of the speech from U.S. Treasury Secretary Geithner (14:00GMT) suggests corrective upmove from 1.2457 has possibly formed a temporary top there and consolidation with downside bias would be seen, however, only a breach of 1.2600 would turn outlook bearish.  
On the upside, a breach of 1.2872 would bring one more rise to 1.2900, however, major resistance at 1.2992 is expected to remain intact.